Asia shares fall as US-China tensions douse rally on Wall St

BANGKOK (AP) — Shares are mostly lower in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. Benchmarks fell Friday in Hong Kong, Tokyo and Sydney but rose in Shanghai. Overnight, the S&P 500 lost most of its gains after President Donald Trump said he’ll hold a news conference about China on Friday. Tensions over a national security law for Hong Kong have added to the usual friction between the two largest economies and Trump’s comment raised worries that more trouble is coming between Washington and Beijing, perhaps unleashing another round of escalating tariffs between the two countries at a time when the coronavirus pandemic has pushed the global economy into recession.