Asian shares mixed after retreat on Wall Street

BANGKOK — Shares were mixed in Asia on Thursday as Japan reported strong trade data signaling a recovery in demand from the pandemic.

Stocks rose in Tokyo and Sydney but fell in Hong Kong and Shanghai. The price of Bitcoin and other cryptocurrencies steadied.

Japan’s government reported that exports rose 38% in April from a year earlier while imports climbed nearly 13%, indicating a recovery in overseas demand even as the country weathers its worst bout of coronavirus outbreaks so far.

Exports to the U.S. rose 45% while those to China jumped nearly 34% in a strong rebound after last year’s shocks from lockdowns and other precautions taken to curb the pandemic.

While better than forecast, the figures largely reflect the low base from the depths of the pandemic lockdowns in 2020 and exports are likely to rise at a lower pace going forward, said Tom Learmouth of Capital Economics.

“While…