Asian stocks mixed, Tokyo gains after Wall Street highs

Asian shares are mixed after stocks rallied to records on Wall Street Friday, and the Dow Jones Industrial Average closed above the 35,000 level for the first time

BANGKOK -- Asian shares were mixed on Monday after stocks rallied to records on Wall Street, with the Dow Jones Industrial Average closing above the 35,000 level for the first time. Tokyo advanced after a 4-day weekend as the Olympic Games began, a year late. Benchmarks fell in Hong Kong and Shanghai but rose in Sydney. Preliminary factory and service activity surveys in Japan showed a slowdown linked to recent tightening of pandemic precautions due to surging coronavirus cases. The flash purchasing managers index for the services sector fell to 46.5 in July from 48 in June, on a scale of 1-100 where 50 marks the break between expansion and contraction.