TOKYO — Asian shares were mostly higher Monday, echoing Wall Street’s mixed close last week.
Japan’s benchmark Nikkei
NIK,
+0.40%
added 0.5% in morning trading. South Korea’s Kospi
180721,
-0.10%
slipped 0.1%, while Australia’s S&P/ASX 200
XJO,
+0.28%
inched up 0.1%. Hong Kong’s Hang Seng
HSI,
-0.41%
slipped 0.4%, while the Shanghai Composite
SHCOMP,
+0.16%
advanced 0.2%. Stocks gained in Singapore
STI,
+0.36%,
Taiwan
Y9999,
+0.07%
and Indonesia
JAKIDX,
+0.07%.
Several central bank rate decisions are expected in the region this week, in New Zealand, South Korea and Indonesia.
Although Japanese shares were higher, risks remain as the government prepares to extend a “state of emergency” to curb coronavirus infections in some areas, beyond the initial ending date of May 31, said Yeap Jun Rong, market strategist at IG in Singapore.
The uneven rollout for the vaccines against COVID-19 remains a factor for regional markets. Although vaccinations have gradually started in Japan, for medical professionals and the elderly, a separate effort to inoculate people at different sites began Monday. So far, about 5% of the population has gotten at least one shot.
On Wall Street on Friday, the S&P 500
SPX,
-0.08%
ended 0.1% lower to 4,155.86, losing 0.4% for the week. That followed a 1.4% loss the week before.
The Nasdaq
COMP,
-0.48%
slid 0.5% to 13,470.99. The Dow Jones Industrial Average
DJIA,
+0.36%
fared better, gaining 0.4% to 34,207.84. The Russell 2000 index picked up 0.3% to 2,215.27.
Worries remain that inflation may cause central banks to pull back on efforts to support growth. The U.S. Federal Reserve has said it expects any bump in inflation to be temporary.
Analysts have also said investors are looking further ahead, beyond the recovery, and are wary about potential tax changes and the impact they may have on growth. Also on investors’ minds is Bitcoin, whose pricing has turned choppy lately.
In energy trading, benchmark U.S. crude
CLN21,
+0.53%
gained 58 cents to $64.16 a barrel in electronic trading on the New York Mercantile Exchange. It gained $1.64 to $63.58 on Friday. Brent crude
BRNN21,
+0.53%,
the international standard, gained 50 cents to $66.94 a barrel.
In currency trading, the U.S. dollar
USDJPY,
-0.11%
slipped to 108.87 Japanese yen from 108.91 yen late Friday.
