Asian shares trend lower after Wall St ends with weekly loss

By ELAINE KURTENBACH
AP Business Writer

Shares are lower in most Asian markets after Wall Street benchmarks ended last week with a decline. Stocks fell in Tokyo, Hong Kong and Seoul but rose modestly in Sydney and Shanghai. Japan reported its wholesale prices were near a 13-year high in August, adding to concerns over inflation as the country prepares for a leadership transition. On Friday, stocks pulled back and the S&P 500 lost 0.8% in its fifth straight decline, ending 1.7% lower for the week. Stocks have traded in a narrow range for several weeks as many investors stick to the sidelines waiting to get a fuller understanding of where the economy is headed and how the pandemic is impacting businesses.