Asian shares were mixed Monday amid cautious optimism about a global rebound from the coronavirus pandemic.
Japan’s benchmark quickly lost early gains and fell 0.1% to 29,642.79, the first market reaction after a summit by Prime Minister Yoshihide Suga with President Joe Biden over the weekend. Suga also spoke with the Pfizer chief executive, asking to ensure a more steady supply of the company’s COVID-19 vaccine. Japan has lagged other nations in a vaccine rollout, with barely 1% of its population inoculated so far.
The government measures against COVID-19 infections already in some urban areas, including Tokyo, are being expanded to more parts of Japan, starting Tuesday, but the cities of Tokyo and Osaka are considering strengthening them to a “state of emergency.” Japan has never had a lockdown, and its laws would need to be changed for such action.
Australia’s S&P/ASX 200 gained 0.4% to 7,093.20, while South Korea’s Kospi added 0.4% to 3,212.41. Hong Kong’s Hang Seng lost 0.4% to 28,856.21. The Shanghai Composite inched down 0.1% to 3,421.96.
