Equities were mixed Monday following a selloff on Wall Street as last week's rally ran out of steam on worries about rising interest rates and surging inflation.
AFP/Angela Weiss
The healthy gains Asian markets enjoyed last week were tempered Monday as expectations about elevated prices and central bank moves to rein them in continued to fan recession fears. Hong Kong dipped though Shanghai edged up with Chinese President Xi Jinping at the weekend reasserting his commitment to the zero-Covid strategy of lockdowns that has hammered the economy this year.
There were losses in Tokyo, Sydney, Singapore, Taipei, Jakarta and Wellington, though Seoul, Mumbai, Manila and Bangkok edged up.Traders are also keeping tabs on looming earnings reports, with expectations that higher rates and prices will have eaten into companies' bottom lines.
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