Asian shares rise on easing of Ukraine tensions, cheaper oil

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are higher, buoyed by hopes for a diplomatic solution instead of a Russian invasion of Ukraine. But analysts warned the tensions were far from completely resolved, and the situation remains volatile. Benchmarks rose in Japan, Australia, South Korea and China. The Chinese government reported consumer prices rose 0.9% over a year earlier in January while prices of goods as they left the factory rose 9.1%. Stocks ended broadly higher on Wall Street, as investors welcomed signs that tensions might ease in Ukraine. Inflationary pressure is still gathering momentum in some parts of the world. Investors are also awaiting earnings reports, including from Walmart later this week.