Asian shares trend lower after Wall St ends with weekly loss

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Shares are lower in most Asian markets after Wall Street benchmarks ended last week with a decline. Stocks fell in Tokyo, Hong Kong, Shanghai and Seoul but rose modestly in Sydney. Japan reported its wholesale prices were near a 13-year high in August, adding to concerns over inflation as the country prepares for a leadership transition. On Friday, U.S. stocks pulled back and the S&P 500 lost 0.8% in its fifth straight decline, ending 1.7% lower for the week. Stocks have traded in a narrow range for several weeks as many investors stick to the sidelines waiting to get a fuller understanding of where the economy is headed and how the pandemic is impacting businesses.

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