Asian shares mixed as Japan says economy contracted in 3Q

Shares are mixed in Asia, with the specter of inflation weighing on sentiment

Shares were mixed in Asia on Monday, with the specter of inflation weighing on sentiment.

Shares rose in Tokyo, Sydney and Seoul but fell in Hong Kong and Shanghai.

Japan reported that its economy contracted in the July-September quarter amid tighter pandemic restrictions that hit consumer spending.

In annual terms, the economy shrank at a 0.3% rate. It contracted 0.8% from the previous quarter.