Asia shares mostly lower as investors mull likely rate hike

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are mostly lower while oil prices surged following an attack on an oil facility in the capital of the United Arab Emirates. Stocks fell in Hong Kong, Tokyo, Seoul and Sydney but rose in Shanghai.  U.S. futures declined as the yield on the 2-year Treasury rose above 1%, adding to expectations the Federal Reserve will soon raise rates to counter inflation. The Bank of Japan wrapped up a two-day policy meeting Tuesday with no major changes, as anticipated given the fast-rising number of reported new coronavirus cases among Japanese. The government was preparing to impose social restrictions in Tokyo and other regions to counter the outbreaks of coronavirus.