Stock market today: Asian shares edge lower after Wall Street sets more records

HONG KONG — Asian markets were mostly lower in cautious trading on Wednesday after U.S. stocks hit new record highs.that its trade deficit rose last month as rising costs for imports outpaced an 8% rise in exports from the year before. The data were weaker than analysts had forecast.

Lam Research also helped support the market after the supplier for the semiconductor industry announced a program to buy back up to $10 billion of its own stock. The company said it will undergo a 10-for-one stock split, which would bring down each share’s price and make it more affordable to more investors. Its stock rose 2.3%.

Rates for mortgages, credit cards and other payments have become more expensive because the Federal Reserve has been keeping its main interest rate at the highest level in more than two decades. It’s trying to pull off a tightrope walk where it grinds down on the economy just enough through high interest rates to snuff out high inflation but not so much that it causes a painful recession.

RICHMOND, B.C. — Retailer London Drugs says it is "unwilling and unable" to pay a multimillion-dollar ransom to cybercriminals who claim to have stolen data in a hacking attack that recently shut down its stores for more than a week. The company says in a statement that the criminals could leak stolen corporate files containing employee information on the dark web, calling the situation "deeply distressing.

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