Asian shares higher, but China down after tough talk from Xi

Shares are mostly higher in Asia, though markets in Shanghai and Hong Kong declined a day after the Chinese Communist Party marked its centenary with tough talk by Chinese President Xi Jinping

TOKYO -- Shares were mostly higher in Asia on Friday, though markets in Shanghai and Hong Kong declined a day after the Chinese Communist Party marked its centenary with tough talk by Chinese President Xi Jinping. On Wall Street on Thursday, the benchmark S&P 500 touched a new record in anticipation of a positive U.S. jobs report, expected later Friday. Recent data have provided encouraging signs of a steady recovery from the pandemic. Japan’s benchmark Nikkei 225 added 0.3% to finish at 28,783.28 on Friday. South Korea’s Kospi was little changed, inching down less than 0.1% to 3,281.78. Australia’s S&P/ASX 200 gained 0.6% to 7,308.60. Shares also rose in India and Vietnam. But Hong Kong’s Hang Seng dropped nearly 2% to 28,266.44, while the Shanghai Composite was also down nearly 2% at 3,518.76.