Stock market today: Asian shares are mostly lower in quiet trading ahead of Biden-Xi meeting

Shares have edged lower in quiet trading in Asia ahead of a meeting this week between U.S. President Joe Biden and Chinese leader Xi Jinping. Tokyo advanced but other markets were little changed, edging lower. On Friday, Wall Street rose sharply to add to an already strong November, which is on track to be one of the market's best months of the year. The S&P 500 jumped 1.6%. Stocks climbed as markets recovered from the prior day’s slump, triggered in part by worries about additional hikes to interest rates by the Federal Reserve. Bets have diminished for a December hike by the Fed, even though a report in the morning showed inflation expectations on the rise.