Asian shares rise, eyeing Ukraine, higher energy costs

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are higher as investors eye the war in Ukraine and inflationary risks including rising energy costs. Benchmarks rose in Japan, South Korea, Australia and China. The Russian war on Ukraine and Western sanctions in response to the invasion are adding to worries over potential disruptions of energy supplies for Europe and surging prices that could hinder recoveries from the pandemic. Shares ended modestly lower on Wall Street. Bond yields rose after Federal Reserve Chair Jerome Powell said the central bank was prepared to move more aggressively to contain inflation. The yield on the 10-year Treasury jumped to 2.33% from 2.14% late Friday.