TOKYO (AP) — Asian shares are rising, partly on bargain-hunting from the recent global market falls amid continuing pessimism about the conronavirus pandemic. Benchmarks in Japan, Australia, South Korea and China rose in Tuesday morning trading. Regional markets shrugged off the latest GDP data out of Japan showing its economy contracted at an annualized rate of 5.1% in the last quarter. Analysts expected the results and don’t see the situation improving for a while. U.S. stocks closed modestly lower Monday, tacking more losses onto last week’s stumble, as worries about inflation continue to dog Wall Street.
