Asian markets mixed after S&P 500 ends worst year since 2008

BANGKOK — Shares began the year mixed on Monday, with most markets closed for New Year holidays.

This week brings employment data and minutes from the latest meeting of the Federal Reserve as it battles inflation. That will likely remain investors’ overarching concern as 2023 begins with persisting uncertainties over the war in Ukraine and over whether interest rate hikes meant to tame inflation might lead to recession.

South Korea’s Kospi fell 0.1% to 2,233.96 and the Sensex in Mumbai edged less than 0.1% higher, to 60,871.24. Jakarta’s benchmark was lower.

The future for Germany’s DAX was down 0.5%.

U.S. stock markets will be closed Monday in observance of the New Year’s Day holiday.

Over the weekend, a report showed that Chinese manufacturing contracted for a third consecutive month in December, in the biggest drop since February 2020, as the country grapples with…