Asian shares remain mostly lower
Markets had climbed in recent weeks as investors remain optimistic that the pandemic is slowly coming to a close
image for illustrative purpose
Bangkok Shares were mostly lower in Asia in thin trading Monday, with many markets including those in Tokyo and Shanghai closed for holidays. The declines follow a retreat Friday on Wall Street, where the S&P 500 gave up 0.7 per cent but still closed out its best month so far this year. Markets have mostly climbed in recent weeks as investors remain optimistic that the pandemic is slowly and steadily coming to a close, at least in the United States.
The S&P 500 rose 5.2 per cent in April, its best monthly gain since November 2020, when President Joe Biden was elected. In much of Asia and many other countries, caseloads have surged and vaccination levels remain low. Hong Kong's Hang Seng lost 1.4 per cent to 28,324.30, and the Kospi in South Korea slipped 0.2 per cent to 3,123.47.
Australia's S&P/ASX 200 edged 0.1 per cent higher to 7,034.80. Shares fell in Singapore and Taiwan. US futures were higher, with the contracts for both the Dow industrials and the S&P 500 up 0.3 per cent. The yield on the 10-year Treasury note was steady at 1.62 per cent. With many markets closed there was little in the way of news to drive trading. On Friday, the S&P 500 closed at 4,181.17.
The index eked out a gain of less than 0.1 per cent for the week. The Dow Jones Industrial Average fell 0.5 per cent to 33,874.85 and the Nasdaq lost 0.9 per cent to 13,962.68.
