Stock market today: Asian stocks mostly fall as Chinese shares skid despite moves to help markets
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Asian stocks were mostly lower on Monday, with Chinese shares leading the declines. The main index in the smaller market in Shenzhen sank 5.4% but then rapidly recovered to trade 1.7% lower. The Shanghai Composite index slipped more than 2% before recovering some lost ground. U.S. futures declined and oil prices were higher. The Securities Regulatory Commission in Beijing pledged to crack down on abuses and protect small investors. Last week, Chinese stocks capped their worst week in five years. Former President said he might impose a tariff of more than 60% on imports of Chinese goods if he is re-elected. By mid-afternoon Monday, the Shanghai Composite index was down 0.2% at 2,725.54. Hong Kong's Hang Seng gained 0.6% to 15,630.63. Tokyo’s Nikkei 225 index climbed 0.6% to 36,390.31. P/ASX 200 sank 1% to 7,623.30. South Korea’s Kospi shed 0.6% to 2,599.62. On Friday, Big Tech stocks once again carried Wall Street to a record, even though the majority of stocks fell due to renewed worries about risks of a hot economy. Big gains for Meta Platforms and Amazon helped drive the S&P 500 index up by 1.1% and closed at 4,958.61. The Dow Jones Industrial Average rose by a more modest 0.3% to 38.654.42. And the Nasdaq jumped 1.7% to 15,628.95.

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https://abcnews.go.com/Business/wireStory/stock-market-today-asian-stocks-fall-chinese-shares-106948786