China and Hong Kong stocks remain under pressure for a third day. Other Asian stocks rise amid Wall St records

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BEIJING (AP) — Asian stock markets were mostly higher Tuesday as investors looked ahead to a Federal Reserve report for an update on when U.S. stimulus might start winding down.

Shanghai, Tokyo and Seoul advanced while Hong Kong retreated.

On Monday, Wall Street’s benchmark S&P 500 index rose to a new record, shrugging off worries about the spread of the coronavirus’s more contagious Delta variant.

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.

“We expect Jay Powell to reiterate that the tapering discussion is underway, but that it’s too soon to reveal a specific date,” Danielle DiMartino Booth of Quill…

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