Stock market today: Asian shares mostly lower on looming worry over US banks, China growth

Asian shares are trading mostly lower on looming worries over U.S. banks and lagging demand from China, the region’s major driver of growth. Recent data reflect very low inflation and weak credit extensions in China, which indicate slowing growth. Benchmarks rose in Tokyo and Sydney, but fell in Seoul, Hong Kong and Shanghai. On Wall Street, Disney dragged the market lower after it lost streaming subscribers during the latest quarter. Some banks beaten down by the industry’s mini-panic also came under pressure. A report on U.S. wholesale inflation showed such pressures might be gradually easing.