Asian markets lower after Wall Street recovers to new high

Asian stock markets have declined after Wall Street hit a new high as investors looked ahead to manufacturing indicators from Japan, China and South Korea

BEIJING -- Asian stock markets declined Monday after Wall Street hit a new high as investors looked ahead to manufacturing indicators from Japan, China and South Korea. Shanghai, Tokyo and Seoul declined. Trading in Hong Kong was suspended due to a weather alert. On Friday, Wall Street’s S&P 500 index turned in its biggest weekly gain in four months. Investors have been encouraged by progress in Washington on an infrastructure spending plan. Markets have recovered from the Federal Reserve’s announcement that it might start raising interest rates sooner than expected.