Asian markets in mixed terrain

Asian markets were mixed Monday as long-running concerns about inflation offset forecast-busting economic data out of the United States and China, while tourism-linked firms rallied on optimism about the global reopening after Pfizer said its pill to treat Covid was highly effective.

Wall Street's three main indexes clocked up records last week after figures showed more than half a million new US jobs were created last month, with hiring rebounding as new infections fall across the country. Figures for the previous two months were also revised up.

The news provided fresh evidence that the world's top economy is well on the recovery track as life slowly returns to some semblance of normal.

But optimism continues to be held back by worries about inflation, which has surged this year owing to a pick-up in demand, a spike in energy prices and supply chain snarls -- forcing central banks around the world to start rowing back their massive pandemic-era support measures.

"Inflation is the major headwind right now," Dana D'Auria, at Envestnet, told Bloomberg Television.

Tokyo, Hong Kong, Sydney, Seoul and Wellington all fell but there were gains in Shanghai, Singapore, Taipei, Manila, Mumbai, Bangkok and Jakarta.