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Asian shares mixed after Wall St barely misses bear market

KVIA

By ELAINE KURTENBACH
AP Business Writer

Shares are mixed in Asia in cautious trading after Wall Street rumbled to the edge of a bear market on Friday. Investors were awaiting minutes from the last policy setting meeting of the Federal Reserve. Tokyo and Sydney were higher while Hong Kong and Shanghai declined. On Friday the S&P 500 dipped more than 20% below its peak set early this year before buying late in the day gave it a tiny gain. It finished 18.7% below its record. That capped a seventh straight losing week, the longest since 2001. Rising interest rates, high inflation, the war in Ukraine, and a slowdown in China’s economy are all punishing stocks and raising fears about a possible U.S. recession.

Associated Press

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