Asian shares up, Shanghai slips as virus fears cloud outlook

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian share are mostly higher, but skepticism about the regional economic outlook tempered the rally amid worries about further waves of COVID-19 outbreaks. Benchmarks in Japan, China, Australia and South Korea gained, while Shanghai declined. Japan’s ruling party holds an election later this week to choose a leader, who is likely to be the next prime minister. All the candidates are promising further fiscal stimulus measures. In Singapore, further COVID-19 restrictions kicked off in an attempt to curb the virus’ spread, as daily new cases topped the peak reached in April last year. Wall Street ended last week mixed.