Asian shares were mostly lower, although Japan's benchmark rallied, welcoming a landslide parliamentary election victory by the ruling Liberal Democratic Party
TOKYO — Asian shares were mostly lower on Monday, although Japan’s benchmark rallied, welcoming a landslide parliamentary election victory by the ruling Liberal Democratic Party.
Concerns about global inflation and interruptions to economic activity brought on by the coronavirus pandemic are adversely affecting investor sentiment. The attack shocked a nation that rarely sees gun violence. The Liberal Democratic Party was bound for victory even before the assassination, but some analysts said the shock of Abe’s death was likely to strengthen that trend.
Hong Kong’s Hang Seng HSI fell 2.9% to 21,090.06, while the Shanghai Composite SHCOMP fell 1.4% to 3,306.70. Technology shares fell after market regulators in China fined companies for not reporting past transactions as required. A strong hiring report for June assuaged fears that the U.S. economy might be on the cusp of a recession — and highlighted the resilience of the nation’s job market.
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