Asian shares mixed as Japan says economy contracted in 3Q

By ELAINE KURTENBACH
AP Business Writer

Shares are mixed in Asia, with the specter of inflation weighing on sentiment. Shares rose in Tokyo and Seoul but fell in Hong Kong and Shanghai. Japan reported that its economy contracted in the July-September quarter amid tighter pandemic restrictions that hit consumer spending. China reported a mixed bag of data, with stronger retail sales and factory output but weaker housing prices and investments in fixed assets. On Friday, stocks closed higher on Wall Street but the market still ended the week lower. The recent winning streak for stocks, which produced a series of record highs for the major indexes, has come to an end as investors shift their focus from corporate earnings to rising inflation.