Asian shares mostly rise on interest rate, inflation hopes

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are trading mostly higher on hopes that the curbs on U.S. interest rates may moderate after new data showed signs of slowing inflation. Benchmarks rose in early trading in Japan, South Korea and Australia, while slipping in China. Regional optimism was lifted by the easing of a COVID-19 lockdown in Shanghai. That kind of development is a big plus for the region’s major drive of growth. Stock indexes edged lower on Wall Street on the inflation data report, which shows it’s still at its highest level in 40 years.