Stock market today: Asian stocks mixed after Wall St retreats on concern economy weakening

Asian stock markets are mixed after Wall Street fell on concern the U.S. economy may be weakening following a report that showed growth in service industries slowing. Tokyo and Hong advanced while Shanghai and Sydney declined. Oil prices retreated. Wall Street’s benchmark S&P 500 index lost 0.2% after an industry group’s index of activity in construction, hospitality and other services fell to a three-year low in May. That conflicted with hopes data last week that showed unexpectedly strong hiring in May meant a potential U.S. recession brought on by interest rate hikes might be farther away.