Asian shares mixed after US inflation report

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are trading mixed after a worrisome report on U.S. inflation that slammed into the bond market and knocked stocks lower on Wall Street. In Japan, where investors are awaiting an economic stimulus package from newly elected Prime Minister Fumio Kishida, the benchmark Nikkei 225 and the Shanghai Composite index rose in morning trading. Indexes fell in Australia, South Korea and Hong Kong. On Wall Street, the sharpest inflation since 1990 forced investors to boost bets that the U.S. Federal Reserve will have to raise short-term interest rates more quickly off their record low. The yield on the 10-year Treasury jumped to 1.55%.