Asian shares fall amid interest rate, earnings worries

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares have declined after U.S. stocks tumbled last week as global markets’ expectations for higher interest rates set the tone. Benchmarks fell in Japan, South Korea and China. Trading was closed in Australia for a national holiday. Oil prices slipped about $4 per barrel and the U.S. dollar remained near 128 to the Japanese yen. The news that Emmanuel Macron won the run-off French presidential election over the weekend, clinching a second term as was widely expected, reassured markets that France won’t abruptly shift course in the midst of the war in Ukraine. Investors are also watching corporate profit reports.