Stock market today: Asia markets are mixed after Wall Street's strong manufacturing data

Asian shares are mixed after Wall Street retreated as surprisingly strong U.S. manufacturing data cast doubts over how soon the Federal Reserve might cut interest rates. Hong Kong gained 2.2%. China real estate developer Vanke’s Hong Kong-listed shares slumped over 10% following the company’s report last week of a notable 50.6% decrease in 2023 core 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.