Asia stocks lower after Wall Street gains on recovery hopes

Wall Street's benchmark S&P 500 index rose for a third day, gaining 1.9% on Tuesday after U.S. retail spending was stronger than expected.

U.S. retail figures showing an 18% gain over the previous month are encouraging but still $50 billion below what might have been expected without the coronavirus, said Rob Carnell of ING in a report. Adding to the mixed picture, Japan's government reported May exports fell 28.3% from a year earlier in their biggest decline since the 2008 global crisis.

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Asian stocks follow Wall St higher after U.S. Federal Reserve ups bond buysAsian shares rose Tuesday, cheered by fresh moves by the U.S. Federal Reserve to support markets battered by the coronavirus pandemic.
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