Asian shares are mixed after strong corporate earnings and data lifted stocks on Wall Street. Hong Kong and Sydney advanced while Seoul declined. Tokyo and Shanghai were closed for holidays. On Monday, a strong dose of positive earnings reports and economic data that showed the U.S. economy is growing pushed the S&P 500 up 0.3%. Shares of clothing retailer Gap Inc. and flooring manufacturer Mohawk Industries both gained more than 7%. The Institute for Supply Management’s manufacturing index came in at 60.7, well above the 50-point mark that indicates manufacturing activity is expanding. Federal Reserve Chairman Jerome Powell said the economic outlook has “clearly brightened” in the United States, but the recovery remains too uneven.
