Asian shares are mixed as momentum fades from last week’s rally on Wall Street amid varied sentiments about coronavirus restrictions easing in China and global interest rate increases.
A person wearing a protective mask walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Monday, Nov. 14, 2022, in Tokyo. Asian shares were mixed in Monday trading, as some momentum of a rally on Wall Street last week lost steam, amid varied sentiments about coronavirus restrictions easing in China and global interest rate hikes.
“But it is far too hasty to declare a decisive conclusion to inflation risks,” said Venkateswaran Lavanya at Mizuho Bank. “We also have the Democrats holding the Senate while the Republicans look likely to control the House. Policy paralysis at a time of economic crisis is not a good look for what may lay ahead over the next two years. The current stock rally may have only days to run,” said Clifford Bennett, chief economist at ACY Securities, referring to the U.S. midterm election results.
The S&P 500 rose 36.56 points, or 5.5%, for its best day in more than two years, to 3,992.93. Its 5.9% gain for the week was its third in the last four and its biggest since June.
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