TOKYO (AP) – Asian shares were mostly lower Monday but Japan’s benchmark got a boost from a weaker yen. Other regional bourses have gradually steadied after a bout of turmoil following the U.S. presidential election.
KEEPING SCORE: Japan’s benchmark Nikkei 225 added 1.5 percent to 17,638.31 in early trading but Australia’s S&P/ASX 200 slipped 0.8 percent to 5,126.01. South Korea’s Kospi dropped 0.4 percent to 1,975.82. Hong Kong’s Hang Seng lost 1.5 percent to 22,186.78, while the Shanghai Composite rose 0.2 percent to 3,201.58.
TRUMP FACTOR: Donald Trump’s victory over Hillary Clinton has set off a rally on Wall Street, as jitters gave way to hopes. Investors are now betting that Trump and a Republican-controlled Congress will boost infrastructure spending, cut taxes and relax regulations that affect energy, finance and other businesses.
JAPAN HOPES: Data for Japan’s gross domestic product showed the economy had grown faster than expected in the July-September quarter, rising 2.2 percent in annualized terms, on the back of healthy exports. The dollar being sought as a safe haven after the U.S. election is also good news for Japan Inc.’s giant exporters.
WALL STREET: The Dow lost 0.2 percent on Friday to 18,847.66. The S&P 500 index edged 0.1 percent lower to 2,164.45. The Nasdaq composite index gained 0.5 percent to 5,237.11.