Asian shares were mixed in Monday trading as momentum faded from last week’s rally on Wall Street amid varied sentiments about coronavirus restrictions...
TOKYO — Asian shares were mixed in Monday trading as momentum faded from last week’s rally on Wall Street amid varied sentiments about coronavirus restrictions easing in China and global interest rate increases.
Benchmarks fell in Japan, but rose in China. Analysts say some investors are being cheered by signs inflation is abating in the U.S. earlier than initially thought, while they warn factors remain that could refuel inflation, including geopolitical risks. “We also have the Democrats holding the Senate while the Republicans look likely to control the House. Policy paralysis at a time of economic crisis is not a good look for what may lay ahead over the next two years. The current stock rally may have only days to run,” said Clifford Bennett, chief economist at ACY Securities, referring to the U.S. midterm election results.
The Dow DJIA rose 32.49, or 0.1%, to 33,747.86, and the Nasdaq COMP climbed 209.18, or 1.9%, to 11.323.33. Both also notched hefty gains for the week.
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