Asian stocks higher as US-China tensions rise

Shanghai, Hong Kong, Tokyo and Seoul advanced after Beijing announced a ban on imports of some Taiwanese goods. Beijing announced no immediate major penalties following the arrival of Speaker Nancy Pelosi of the U.S. House of Representatives. The mainland’s ruling Communist Party claims Taiwan as part of its territory and rejects foreign official contact with the self-ruled island democracy. Wall Street’s benchmark S&P 500 index lost 0.7% on Tuesday after the Labor Department said American employers posted fewer job openings than expected in June following interest rate hikes to cool surging inflation. The Dow Jones Industrial Average lost 1.2% to 32,396.17, largely because of a tumble for Caterpillar, a maker of earth moving equipment maker Caterpillar. . . .