Asian shares fall after weak earnings pull Wall St lower

BANGKOK — Asian shares were mostly lower on Thursday after Wall Street benchmarks fell and Japan reported a 14th straight month of monthly trade deficits due to high prices for oil and other commodities and a weakening yen.

Wall Street futures were mixed while oil prices gained.

Japan’s trade deficit was a record high for the first half of the year, though it fell slightly from the month before and was smaller than analysts had forecast.

The Finance Ministry said Thursday that imports rose nearly 46% from the same month a year ago on the back of rising oil and gas costs. Imports have grown for 20 months straight on-year.

The dollar has gained strength versus currencies worldwide as inflation and recession concerns prompt investors to look for relatively stable investments. The yen is now trading at 32-year lows against the dollar, changing hands at 149.93 Japanese yen…