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Stock market today: Asian stocks mixed after Wall St retreats on concern economy weakening

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Asian stock markets were mixed Tuesday after Wall Street fell on concern the U.S. economy may be weakening following a report that showed growth in service industries slowing.

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Australia's central bank lifted its benchmark interest rate Tuesday for a 12th consecutive time to 4.1% and warned further rises could follow. The Reserve Bank of Australia boosted the cash rate by a quarter of a percentage point following a higher-than-expected 6.8% annual inflation rate for the January-March quarter.The Shanghai Composite Index lost 0.3% to 3,222.35 while the Hang Seng in Hong Kong advanced 0.6% to 19,220.23.

The Dow Jones Industrial Average fell 0.6% to 33,562.86. The Nasdaq composite slipped 11.34, or 0.1%, to 13,229.43.Apple fell 0.8% after unveiling a long-rumored headset that will place its users between the virtual and real world. It will cost $3,500 when it is released early next year.

 

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