Asian shares mostly rise on interest rate, inflation hopes

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are trading mostly higher after new data showed inflation in the U.S. was not as bad as some analysts had expected. Benchmarks rose in Japan, South Korea and Australia. In China, shares gained in Hong Kong but fell in Shanghai. U.S. futures were also higher, while oil prices were little changed. The Chinese government reported that exports rose nearly 16% in March from a year earlier while imports were flat. The easing of a COVID-19 lockdown in Shanghai was another encouraging factor. Stock indexes edged lower on Wall Street after data showed inflation still at its highest level in 40 years.