Asian shares mostly lower after tepid gains on Wall Street

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are mostly lower as investors eye the war in Ukraine and what the world’s central banks might do to keep inflation in check. Benchmarks fell in Tokyo, Seoul, Hong Kong and Shanghai, while Sydney advanced. Investors have been weighing the latest updates from the U.S. Federal Reserve amid concerns about rising inflation. The Fed has signaled it is prepared to keep raising interest rates and reducing its stockpile of bonds and mortgage-backed securities in order to rein in the highest inflation in 40 years. Oil prices retreated. Every major index is in the red for the week following two big losses that were partly prompted by concerns over the Fed’s shifting policies.