Asia shares mixed amid signs of optimism on global economy

TOKYO (AP) — Asian shares were mixed Friday, amid recent signs of optimism about the global economy, including recent rallies on Wall Street.

Japan's benchmark Nikkei 225 recovered after falling in morning trading to finish up 0.3% at 28,892.69, as investors mostly took a wait-and-see attitude ahead of the nationwide parliamentary elections Sunday.

The ruling Liberal Democratic Party, which has ruled almost continuously for decades, is expected to stay in power. But the opposition is also expected to gain ground because of public discontent over the government's handling of the coronavirus pandemic and worries about the economy.

South Korea's Kospi lost 1.3% to 2,970.68. Australia's S&P/ASX 200 declined 1.4% to 7,323.70. Hong Kong's Hang Seng dipped 0.9% to 25,337.22, while the Shanghai Composite recouped earlier losses, rising 0.7% to 3,544.07.

Heavy selling of some technology shares in after-hours trading cast a shadow. Apple dropped 5.4% in after-hours trading after the company’s fiscal fourth-quarter revenue fell short of Wall Street’s estimates. Amazon.com fell 4% in after-hours trading after its third-quarter earnings missed analysts’ forecasts.

“While sentiments may want to ride on the bullish moves in Wall Street overnight, market participants will also be digesting the weakness in big tech after-market, which may dampen some optimism,” said Yeap Jun Rong, market strategist at IG in Singapore.

The S&P 500 and Nasdaq reached new highs Thursday, as the market more than made up for modest losses a day earlier.

The S&P 500 rose 1% to 4,596.42, posting its third all-time high this week. More than 80% of the stocks in the benchmark index closed higher. Technology stocks, banks and a mix of companies that rely on consumer spending accounted for much of...