Asian shares mostly higher, tracking Wall Street rally

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are mostly higher after another rally to record highs on Wall Street. Benchmarks in Tokyo, Seoul and Sydney rose, while Hong Kong fell and Shanghai was little changed. Stocks have been pushing broadly higher as companies turn in much stronger profit reports for the summer than analysts had expected. Historically low interest rates, along with strong corporate profit growth, have helped the S&P 500 more than double from the bottom it set in March 2020 in the early days of the coronavirus pandemic. On Monday, the S&P 500 gained 0.5% while the Dow Jones Industrial Average surged 0.9%, both closing at record highs.