Asian shares were mixed Monday, as benchmarks fell in Hong Kong and Shanghai after Beijing reported that the Chinese economy gained momentum in the last quarter, the Associated Press reported. Benchmarks were higher in Tokyo, Sydney and Seoul. Oil prices fell. Market watchers are keeping a cautious eye on inflationary pressures and any signs of risk for regional slowdowns. The second-largest economy grew at a 3.9% annual pace, up from the previous quarter's 0.4%, but that still was among the slowest expansions in decades as the country wrestled with repeated closures of cities to fight virus outbreaks. Japan's benchmark Nikkei 225 added 0.5% in afternoon trading to 27,029.83. Australia's S&P/ASX 200 gained 1.5% to 6,779.40. South Korea's Kospi gained 0.9% to 2,232.59. Hong Kong's Hang Seng lost 6.3% to 15,185.93, while the Shanghai Composite index shed 1.9% to 2,982.50. In currency trading, the U.S. dollar rose to 148.93 Japanese yen from 147.65 yen. In energy trading, benchmark U.S. crude fell 83 cents to $84.22 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, declined 85 cents to $92.65 a barrel.
