Asian shares slip despite Wall St gains after Biden-Xi talks

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are slipping despite stocks closing higher on Wall Street, as investors review solid U.S. earnings reports from retailers and an encouraging update on consumer spending. Benchmarks in Japan, South Korea, Australia and China fell in early trading. Virtual talks between U.S. President Joe Biden and Chinese President Xi Jinping appeared to signal a step in the right direction, but failed to produce any major announcements. The S&P 500, the Dow Jones Industrial Average and the Nasdaq rose. The Commerce Department said retail sales rose 1.7% in October. That’s the biggest gain since March and up from 0.8% in the previous month.