Asian stock markets mixed after Wall Street rises to record

Asian stock markets are mixed as investors look ahead to a Federal Reserve report for an update on when U.S. stimulus might start winding down

BEIJING -- Asian stock markets were mixed Tuesday as investors looked ahead to a Federal Reserve report for an update on when U.S. stimulus might start winding down. Tokyo and South Korea advanced while Hong Kong retreated and Shanghai swung between gains and losses. On Monday, Wall Street's benchmark S&P 500 index rose to a new record, shrugging off worries about the spread of the more contagious delta variant of the coronavirus. Investors awaited the Fed report Wednesday for signs of the central bank's level of concern about inflation and when it might start rolling back easy credit and other economic stimulus. Minutes of the Fed meeting in June showed board members discussed how and when they might reduce monthly bond purchases that inject money into the financial system.