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TOKYO (AP) — Asian shares were mixed in directionless trading Tuesday following a U.S. holiday, as optimism about a deal on the U.S. debt was dented by worries about the regional economy.
Japan's benchmark Nikkei 225 rose 0.3% to 31,328.16. Australia's S&P/ASX 200 edged down 0.1% to 7,209.30. South Korea's Kospi jumped 1.0% to 2,584.90.
Hong Kong's Hang Seng was up less than 0.1% at 18,553.22. The Shanghai Composite fell less than 0.1% to 3,221.01.
Analysts say investors remain concerned about the a possible “second wave” of COVID-19 cases in China, although the economic impact is expected to be more limited than from the earlier pandemic wave.
China's recovery from virus-related disruptions during the past several years appears to be faltering, adding to worries over the regional economy.
“To say China’s economic opening has been a disappointment could be an understatement, especially as reflected in local stocks that are now on the cusp of a bear market,” Stephen Innes of SPI Asset Management said in a commentary.
World shares finished mostly higher Monday after President Joe Biden and House Speaker Kevin McCarthy reached agreement on a deal to raise the U.S. national debt ceiling. Now Biden and McCarthy are working to gather votes needed to gain congressional approval in time to avert a default.
Markets are closely watching the U.S. consumer confidence data set to be released later in the day.
In other trading, U.S. benchmark crude fell 25 cents to $72.42 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, declined 44 cents to $76.63 per barrel.
The U.S. dollar edged up to 140.44 Japanese yen from 140.38 yen. The euro cost $1.0700, down from $1.0711.
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Yuri Kageyama is on Twitter https://twitter.com/yurikageyama