Stock market today: Asian shares rebound following latest tumble on Wall Street. Oil prices gain $1

HONG KONG — Asian shares advanced Friday after the latest tumble on Wall Street, where the S&P 500 fell to its lowest level in five months.

Chinese shares also halted their recent slide as the government reported that profits at China’s industrial firms extended gains for a second month in September, rising nearly 12%, following policy measures to help stabilize the slowing economy.The Hang Seng in Hong Kong rose 2.1% to 17,403.03, setting the market up for a winning week, and the Shanghai Composite index added 1.1% to 3,019.72.

Higher interest rates could mean eventual weakness for the economy and corporate profits. And high bond yields make investors less willing to pay high prices for stocks and other investments.as they catch up with the main interest rate controlled by the Federal Reserve, which is at its highest level since 2001.

In other trading Friday, U.S. benchmark crude gained $1.34 to $84.55 a barrel in electronic trading on the New York Mercantile Exchange. It gave up $2.18 on Thursday.Warren Buffett is set to indirectly bet on a tiny nation that's the world's fastest-growing economy and an emerging oil superpower The special counsel’s new court filing wants a federal gag order reinstated with time behind bars if Trump violates it.High interest rates are derailing the ambitions of climate regulators and automakers to accelerate the shift to electric vehicles, underscored Wednesday by the scrapping of a GM-Honda partnership and a warning from a battery maker.

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