Asian shares edge lower after mixed finish on Wall Street

Stocks have edged lower in Asia after a mixed finish on Wall Street

BANGKOK -- Stocks edged lower in Asia on Tuesday after a mixed finish on Wall Street, as investors weighed the risks of inflation against signs the recovery from the pandemic is gaining momentum. Benchmarks fell in Tokyo, Hong Kong and Shanghai and Seoul. Sydney was higher. In a subdued opening to the week in New York, the S&P 500 slipped less than 0.1%, giving up some recent gains. The benchmark index is within 0.2% of the all-time high it reached a month ago. Japan reported that its economy contracted 1% in the January-March quarter from the previous quarter, instead of the preliminary estimate of minus 1.3%.