Asian shares retreat as oil climbs back above $100

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Shares are mostly lower in Asia after Wall Street extended a rally into a third day on Thursday. Oil prices pushed higher, surpassing $105 per barrel. Tokyo, and Sydney advanced while Hong Kong, Shanghai and Seoul declined. The Bank of Japan kept its ultra-low interest rate policy unchanged despite moves by the Federal Reserve and other central banks to boost rates to counter inflation. The S&P 500 climbed 1.2% after surging more than 2% in each of the prior two days for its best back-to-back performance in nearly two years. Investors are juggling a raft of concerns including resurging COVID cases, the war in Ukraine and surging inflation.