Stock market today: Asian stocks drift after Wall Street closes another winning week

HONG KONG — Asian stocks were mostly lower on Monday after Wall Street coasted to the close of another winning week.The release of weak Chinese lending data and news that the U.S. government plans to raise tariffs o a raft of Chinese exports were weighing on sentiment.

On Friday, the S&P 500 rose 0.2% to 5,222.68 to finish a third straight winning week following a mostly miserable April. Early gains shrank after a discouraging report on Gen Digital jumped 15.3% after reporting better profit for the first three months of 2024 than analysts expected. The cyber safety company, whose brands include Norton and LifeLock, also authorized a program to buy back up to $3 billion of its stock. It joined a lengthening list of companies announcing big such programs, which helps goose per-share earnings for investors.

In the bond market, Treasury yields rose following the discouraging preliminary report from the University of Michigan. In energy trading, benchmark U.S. crude lost 20 cents to $78.06 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, was 26 cents lower at $82.53 a barrel.

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