Asian shares mostly lower; China, Japan closed for holidays

Shares are mostly lower in Asia in thin trading, with many markets including those in Tokyo and Shanghai closed for holidays

Shares were mostly lower in Asia in thin trading Monday, with many markets including those in Tokyo and Shanghai closed for holidays. The declines follow a retreat Friday on Wall Street, where the S&P 500 gave up 0.7% but still closed out its best month so far this year. Markets have mostly climbed in recent weeks as investors remain optimistic that the pandemic is slowly and steadily coming to a close, at least in the United States. The S&P 500 rose 5.2% in April, its best monthly gain since November 2020, when President Joe Biden was elected. In much of Asia and many other countries, caseloads have surged and vaccination levels remain low.