Asian shares mixed after US inflation jumps 5% in May

Shares are mostly higher in Asia after the S&P 500 index notched another record high despite a surge in U.S. consumer prices in May

BANGKOK -- Shares were mostly higher in Asia on Friday after the S&P 500 index notched another record high despite a surge in U.S. consumer prices in May. Shanghai fell, Tokyo was nearly unchanged, while shares rose in Hong Kong, Seoul and Sydney. U.S. futures were marginally lower. On Thursday, Wall Street logged gains while bond yields mostly fell despite the much-anticipated report showing consumer prices rose 5% in May, the biggest year-over-year increase since 2008 and more than economists had expected. Investors also reacted positively to more data that showed continued improvement in the labor market.