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Asian stocks mixed after Wall St rebound breaks 3-day slump

May 20, 2021

Via: ABC News

Asian shares were mixed Friday after a rebound on Wall Street broke a three-day losing streak.

Benchmarks rose in Tokyo, Taipei and Singapore but fell in Hong Kong and Shanghai.

Investors were encouraged by the latest U.S. jobs data showing fewer Americans filing for unemployment benefits, another sign that the economic recovery is underway.

A preliminary survey of manufacturing sentiment in Japan, the purchasing managers index or PMI, showed a weakening in May from the month before. A similar trend was seen in services, which are most affected by precautions ordered recently to counter the country’s worst-ever surge in coronavirus outbreaks. States of emergency have been declared in Tokyo and some other cities and regions, with more expected to follow.

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