Asian stocks rose on Tuesday after Wall Street pared some of last week’s huge gains, the US and Chinese presidents met and China’s consumer spending contracted in a sign that its economy is weakening.

shanghai Tokyo and Hong Kong, which account for the bulk of the region’s market cap, rose. South Korea and Sydney declined. Oil prices fell.

The S&P 500, Wall Street’s benchmark, fell 0.9 percent on Monday, reversing part of last week’s 5.9 percent gain on lower US inflation…