Stock market today: Hong Kong stocks lead Asia market gains while developer Vanke slumps

Hong Kong stocks are leading gains in Asian markets while investors evaluate economic data from South Korea and Australia. U.S. futures were lower while oil prices rose. China real estate developer Vanke’s Hong Kong-listed shares slumped 11.4% on Tuesday after the company reported last week of a notable decrease in profit and no dividend payout. The S&P 500 fell 0.2% Monday, coming off an all-time high and its latest winning month. The Dow Jones Industrial Average lost 0.6%, and the Nasdaq composite edged up 0.1%. Treasury yields climbed after a report said manufacturing unexpectedly returned to growth. That raised concerns about upward pressure on inflation, which could diminish the Federal Reserve's desire to cut interest rates.