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 1.7 percent to finish at 17,672.62 and the Shanghai Composite rose 0.2 percent to 3,203.38, but most other markets fell. Australia’s S&P/ASX 200 slipped 0.5 percent to 5,345.70 and South Korea’s Kospi lost 0.4 percent to 1,976.31. Hong Kong’s Hang Seng slipped 1.5 percent to 22,196.66.
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.