Asian shares up, Shanghai slips as virus fears cloud outlook
ABC News
Asian share are mostly higher, but skepticism about the regional economic outlook tempered the rally amid worries about further waves of COVID-19 outbreaks
TOKYO -- Asian shares were mostly higher Monday, but fears of further waves of coronavirus outbreaks were clouding the economic outlook for the region, tempering the rally.
Japan's benchmark Nikkei 225 rose 0.3% to 30,35.62. Australia's S&P/ASX 200 gained 0.7% to 7,393.60. South Korea's Kospi added 0.6% to 3,142.08. Hong Kong's Hang Seng added 1.2% to 24,479.52, while the Shanghai Composite shed 0.5% to 3,595.97.
Japan's ruling party holds an election later this week to choose a leader, who is likely to succeed Yoshihide Suga as prime minister after just one year in office. All the candidates are certain to stick to the nation's pro-U.S. policies, despite some nuances in their views.
They also are all promising to boost government spending to try to catalyze growth in the world's third largest economy.
