Asian stocks mixed amid vaccine, stimulus optimism

BEIJING (AP) — Asian stock markets were mixed Monday after Wall Street hit a new high amid optimism about government stimulus and the rollout of coronavirus vaccines.

Shanghai, Tokyo, Hong Kong and Seoul advanced.

Wall Street’s advance Friday was led by stocks that would benefit if vaccinations and government spending boost the U.S. economy as much as expected.

Vaccines and stimulus have “helped to create an aura of high optimism,” John Bilton of JP Morgan Asset Management said in a report. He said “above-trend global growth” should last into 2022 and regions such as Europe that are at “peak pessimism” due to vaccine delays should accelerate later this year.

U.S. futures were lower following sales Friday of large blocks of stock that news reports said were carried out by Archegos Capital Management, run by financier Bill Hwang.

Shares of media giants ViacomCBS Inc. and Discovery Inc., Chinese search engine operator Baidu Inc. and Tencent Music Entertainment Group fell. Baidu's shares fell 4.1% Monday in Hong Kong and Tencent's were 1.9% lower.

In Tokyo, brokerage Nomura Holdings' shares fell 16.3% after it warned of an event on March 26 that could cause a “significant loss" due to transactions with an unnamed “US client."

“Nomura is currently evaluating the extent of the possible loss and the impact it could have on its consolidated financial results," the company said in a statement. “The estimated claim against the client is approximately $2 billion based on market prices as of March 26."

But the company said the situation would have no impact on its financial soundness.

The Shanghai Composite Index rose 0.4% 3,431.36 and the Nikkei 225 in Tokyo advanced 0.6% 29,358.49. The Hang Seng in Hong Kong shed 0.3% to 28,240.59.

The Kospi in Seoul...