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Monday, December 5, 2022

Asian shares mostly lower as recession fears deepen

BANGKOK — Asian shares were mostly lower on Monday after Wall Street closed out a miserable September with a loss of 9.3%, the worst monthly decline since March 2020.

Tokyo rose while other regional markets declined. Shanghai was closed for China’s weeklong National Day holidays.

Japan’s Nikkei 225 index gained 0.6% to 26,100.68 after a Bank of Japan quarterly survey showed sentiment among manufacturers has darkened, reflecting rising costs, the weakening yen and lingering pandemic-related restrictions.

The headline measure for the “tankan,” measuring sentiment among large manufacturers, was plus 8, down from plus 9 the previous quarter. The tankan measures corporate sentiment by subtracting the number of companies saying business conditions are negative from those responding they are positive.

“Today’s Tankan survey suggests that while the services sector is…

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