Asian shares mostly rise despite mounting omicron worries

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are mostly higher amid nervous trading due to worries over the newest coronavirus variant. Benchmarks rose in Japan, South Korea and China, but fell slightly in Australia. Wall Street’s losses deepened Tuesday after the head of the Federal Reserve said it will consider shutting off its support for financial markets sooner than expected. The detection of the omicron variant in Japan and other countries is raising fears that further measures to contain infections could squelch tourism and economic activity. On Wednesday, Japan ordered a suspension of incoming commercial flights until the end of the year. Experts say it may take weeks before they better understand whether the omicron variant causes serious illness.