Asian shares extend losses after Wall Street decline

BANGKOK — Shares slipped in Asia on Thursday after benchmarks fell more than 1% on Wall Street in the middle of a mostly quiet and holiday-shortened week.

U.S. futures were mixed and oil prices declined.

Investors are watching to see how China‘s relaxation of its stringent COVID-19 policies, and the outbreaks of infections that have followed, will affect business activity and travel.

One concern is that the massive outbreaks could generate new, potentially vaccine resistant variants of the virus, “leading to knock-on virus surges across the globe, China’s reopening could still mark a positive step over the long run in light of past global attempts in bringing virus cases under control,” Yean Jun Rong of IG said in a commentary.

The Hang Seng in Hong Kong shed 1.0% to 19,691.33, while the Shanghai Composite index was down 0.3% at 3,078.81.

Tokyo’s Nikkei 225 index lost…