Asian shares mixed after retreat on Wall Street


20th May, 2021 01:53:11 PM printer

Asian shares mixed after retreat on Wall Street

Shares were mixed in Asia on Thursday after benchmarks closed broadly lower on Wall Street in a third day of retreat.

The price of Bitcoin and other cryptocurrencies declined further. Stocks rose in Tokyo and Sydney but fell in Hong Kong and Shanghai.

Japan’s government reported that exports rose 38% in April from a year earlier while imports climbed nearly 13%, indicating a recovery in overseas demand even as the country weathers its worst bout of coronavirus outbreaks so far.

Exports to the U.S. rose 45% while those to China jumped nearly 34% in a strong rebound after last year’s shocks from lockdowns and other precautions taken to curb the pandemic.

Energy sector stocks, the biggest gainers so far this year, bore the heaviest losses as the price of U.S. crude oil skidded 3.5%.