Asian shares mostly lower after tech-led retreat on Wall St

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Shares are mostly lower in Asia after a retreat on Wall Street led by technology companies. Investors are weighing the implications of higher interest rates, surging coronavirus cases and tensions between Beijing and Washington. Tokyo, Hong Kong and Shanghai declined while Sydney was higher. U.S. shares dropped a day after the Federal Reserve said it’s preparing to begin raising rates next year to fight inflation. The S&P 500 fell 0.9% and the tech-heavy Nasdaq slid 2.5%, its biggest drop since September. Traders were also considering other moves by global central banks. The Bank of England became the first central bank among leading economies to raise interest rates.