TOKYO – Asian shares were mostly lower Monday despite hopes for a gradual global recovery after the U.S. stimulus package passed the Senate over the weekend.
Heavy selling of shares in technology companies helped drag benchmarks lower in Japan and South Korea after early gains. The Shanghai Composite index dropped 2.3% after China’s foreign minister made ominous comments about the self-ruled island of Taiwan.
Japan's benchmark Nikkei 225 shed 0.4% to 28,743.25. Australia's S&P/ASX 200 edged up 0.4% higher to 6,739.60, while South Korea's Kospi sank 1.0% to 2,995.90.
Hong Kong's Hang Seng fell 1.5% to 28,661.49, while the Shanghai Composite fell to 3,423.02. Chinese computer chip maker SMIC dropped 5.2%; mobile phone maker Xiaomi lost