Update on the latest in business:


Asian shares lower

TOKYO (AP) — Asian shares were mostly lower today, tracking losses on Wall Street.

Japan’s Nikkei 225 slipped 0.3%. Australia’s S&P/ASX 200 fell 0.2%. South Korea’s Kospi edged less than 0.1% higher. Hong Kong’s Hang Seng lost 0.9%, while the Shanghai Composite index sank 0.7%. Taiwan’s index rose while Southeast Asian benchmarks fell.


U.S. stocks retreated further from their records on Friday to cap the weakest week for the S&P 500 since May as sentiment darkened after Iran said it seized a British oil tanker in the latest escalation of tensions between Tehran and the West.

The S&P 500 fell 0.6% to 2,976.61. After setting its record high on Monday, the index see-sawed mostly lower and lost 1.2% for the week. It’s just the second down week for the index in the last seven. The Dow Jones Industrial Average fell 0.3% to 27,154.20, and the Nasdaq composite lost 0.7% to 8,146.49.


Shanghai STAR tech board shares surge

TOKYO (AP) _ A newly launched technology stocks market in Shanghai has soared with its trading debut today.

Prices of the 25 companies listed on the Shanghai Stock Exchange’s STAR Market more than doubled, with one company, Anji Microelectronics Technology (Shanghai) Co., Ltd., logging a 415% advance.

Regulators have approved 25 companies in information technology and other fields for the STAR Market. The market, modeled on the U.S.-based NASDAQ, reflects the ruling Communist Party’s desire to channel private capital into its development plans. It gives small Chinese investors a chance to buy into tech industries that until now have turned to Wall Street to sell shares.


South Korea detains 6 for illegally entering Japan consulate

SEOUL, South Korea (AP) — South Korean police say they’ve detained six people for allegedly illegally entering a Japanese diplomatic facility in South Korea.

Today’s arrests came amid growing anti-Japanese sentiments in South Korea as the two countries are locked in trade and diplomatic disputes. Last Friday, a 78-year-old South Korean man died after setting himself on fire near the Japanese Embassy in Seoul.

Police say they’re trying to find why the six people entered the Japanese consulate building in the southeastern city of Busan.

Yonhap news agency says they were trying to hold a placard and shout slogans criticizing Japan’s recent decision to tighten its export controls of some high-tech materials.

South Korea and Japan have often been embroiled in disputes stemming from the Japanese colonial occupation from 1910-45.


Lufthansa resumes Cairo flights, British Airways stays away

CAIRO (AP) _ Lufthansa has resumed flying to Cairo following a one-day suspension due to safety concerns. Meanwhile, British Airways is continuing with its seven-day suspension of flights to Cairo on security concerns. The U.S. warned citizens Friday about traveling to Egypt, saying terrorist groups including ISIS committed multiple deadly attacks. British authorities also warned against traveling to parts of Egypt due to terrorist attacks.

British Airways attributed its cancellations to what it called its constant review of security arrangements at all airports, calling them “a precaution to allow for further assessment.”


Papua New Guinea PM won’t discuss China on Australian visit

CANBERRA, Australia (AP) _ Papua New Guinea’s new prime minister says his country’s relationship with China is not open to discussion during his visit to Australia. Australia, the United States and Japan are trying to counter China’s growing influence in the South Pacific.

Chinese President Xi Jinping (shee jihn-peeng) made his first visit to Papua New Guinea last year when the Group of 20 countries met in the capital Port Moresby.

The South Pacific island nation has 8 million people, mainly subsistence farmers. The United States and Australia committed to redevelop a Papua New Guinea naval base on Manus Island in an agreement with the previous prime minister, prompting China to caution against “Cold War” thinking. China reportedly wants to establish a naval base in the South Pacific.


Olympic robots offer ‘virtual’ attendance, help out on field

TOKYO (AP) — Japanese automaker Toyota is readying various robots for next year’s Tokyo Olympics, including one that brings back javelins and other objects, a screen-on-wheels designed for “virtual” attendance and those in the likeness of the Olympic and Paralympic mascots.

The robots were shown to reporters for release today. Toyota Motor Corp. is a major Olympic sponsor.

The mascot robots’ eyes change to the images of stars and hearts.

The engineer in charge (Tomohisa Moridaira) suggested various possibilities, such as having the mascot robot hold the Olympic torch using magnets.

Another robot, T-TR1, is a moving human-size display designed to represent people who can’t be there.

The “field support robot” has intelligence to avoid obstacles in its path and helps bring back thrown objects like javelins and discuses.


‘The Lion King’ rules and ‘Endgame’ scores all-time record

LOS ANGELES (AP) _ LOS ANGELES (AP) — If there was any doubt that the 2019 box office belonged to the Walt Disney Co., this weekend put an end to it. Not only did its photorealistic remake of “The Lion King” devour opening weekend records for the month of July and PG-rated films, but “Avengers: Endgame” also crept past “Avatar” to become the highest-grossing film of all time.

“The Lion King” this weekend roared into 4,725 North American theaters, where it grossed a stunning $185 million, according to studio estimates on Sunday. Although reviews were mixed for Jon Favreau’s remake of the 1994 animated film, audiences still turned out in droves to hear the A-list voice cast, from Beyoncé to Donald Glover, and to see the innovative technology that made the film possible.

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