Stock market today: Asian shares are mixed, with China up after state fund says it will buy stocks

Shares are mixed in Asia, where Chinese markets advanced after a government investment fund said it would step up stock purchases. But the gains in Shanghai, Shenzhen and Hong Kong were much smaller than recent losses. On Monday, stocks slipped on Wall Street as data showed the economy remains strong, which could delay interest rate cuts investors are counting on. The S&P 500 fell 0.3% from an all-time high and the Dow Jones Industrial Average lost 0.7%. The Nasdaq composite slipped 0.2%. Bond yields climbed after the chair of the Federal Reserve reiterated that rate cuts are unlikely to begin in March. A strong report on U.S. services businesses also pushed yields higher.