HONG KONG: Asian shares were mixed on Monday, with Tokyo helped by better-than-expected Japanese growth figures while Shanghai fell despite a government pledge to support China’s volatile stock markets.
The dollar strengthened after solid US data boosted expectations of an imminent US rate rise, heaping pressure on oil prices after they slid to a six-and-a-half-year low last week.
Sydney rose 0.31 per cent, while Seoul dropped 0.46 per cent and Hong Kong dipped 1.03 per cent in morning deals
Shanghai stocks lost 0.65 per cent, following their biggest weekly gain in two months, even after Beijing pledged to support the country’s volatile markets for the new few years.
Meanwhile, Tokyo shares rose 0.35 per cent after news Japan’s economy shrank a lower-than-expected 0.4 per cent in the April-June quarter and 1.6 per cent from a year ago.
