Asian shares mixed after China warning on risks, stagflation

By ELAINE KURTENBACH
AP Business Writer

Stocks are mixed in Asia after ending mostly lower on Wall Street Friday, despite the Nasdaq’s first close above 16,000. A resurgence of coronavirus outbreaks in the U.S., Europe and some other regions is weighing on investor sentiment. Comments by senior Chinese economic advisers about risks of “stagflation,” meanwhile, have reinforced concerns about inflationary pressures. Shares rose in Tokyo, South Korea and Shanghai but fell in Hong Kong and Sydney. On Wall Street on Friday, the S&P 500 index gave up 0.1% and the Dow Jones Industrial Average fell 0.8%. Investors are watching to see if President Joe Biden will decide to keep Jerome Powell at the helm of the Federal Reserve.