Asian shares slipped Monday lower following a sell-off last week on Wall Street as investors fretted over the impact on regional economies from inflation,...
TOKYO — Asian shares slipped Monday lower following a sell-off last week on Wall Street as investors fretted over the impact on regional economies from inflation, the war in Ukraine and COVID-19 lockdowns in China.
Japan’s benchmark Nikkei 225 NIK declined 0.5% in morning trading. Australia’s S&P/ASX 200 XJO dropped 1.4% and South Korea’s Kospi 180721 shed 0.6%. Trading was closed in China for Labor Day, a national holiday, and in other regional markets. The COVID-19 outbreaks have impacted China’s factory activities and market demand, said the bureau’s statistician Zhao Qinghe.
In Japan, a series of national holidays this week known as Golden Week is allowing people to take a vacation, even in the “workaholic” culture at companies. But the crowds gathering in resorts are adding to concerns coronavirus cases might pick up again, leading to a resumption of restrictions on restaurant opening hours and other business activities.
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