Asian shares skid after S&P 500 logs 1st monthly drop of ’21

By ELAINE KURTENBACH
AP Business Writer

Asian markets have tumbled on the tail of Wall Street’s worst monthly loss since the beginning of the pandemic. Tokyo skidded 2.3% and Australia’s benchmark sank 2.2%. Markets in Shanghai and Hong Kong were closed for holidays. The S&P 500 ended September down 4.8%, its first monthly drop since January and the biggest since March 2020. It’s still up 14.7% for the year. A quarterly survey by Japan’s central bank showed business sentiment improving as manufacturers looked ahead to a revival in demand after the government lifted a pandemic state of emergency. But supply chain disruptions are slowing the recovery.