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Monday, May 6, 2024

Asian shares retreat as oil climbs back above $100

BANGKOK — Shares were mostly lower in Asia on Friday after Wall Street extended a rally into a third day and oil prices pushed higher, surpassing $105 per barrel.

Tokyo and Sydney advanced while Hong Kong, Shanghai and Seoul declined.

Ukrainian President Volodymyr Zelenskyy called for more help for his country after days of bombardment of civilian sites in multiple cities over the past few days.

The war, and plans for President Joe Biden to speak with Chinese President Xi Jinping later Friday were among the uncertainties overhanging markets.

The White House said the conversation will center on “managing the competition between our two countries as well as Russia’s war against Ukraine and other issues of mutual concern.”

Wrapping up a two-day meeting, the Bank of Japan opted to keep its monetary policy unchanged, with its benchmark interest rate at minus 0.1%. Japan’s…

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