Asian shares rise after US Fed signals low rates will stay

Asian shares are higher as investors interpreted comments from the head of the U.S. Federal Reserve as signaling low interest rates were here to stay for some time

TOKYO -- Asian shares were higher Monday, as investors interpreted comments from the head of the U.S. Federal Reserve as signaling low interest rates were here to stay for some time. Japan's benchmark Nikkei 225 edged up 0.4% in afternoon trading to 27,763.07. Australia's S&P/ASX 200 rose 0.2% to 7,500.80. South Korea's Kospi gained 0.2% to 3,140.96. Hong Kong's Hang Seng added 0.5% to 25,525.62, while the Shanghai Composite stood at 3,534.37, up 0.4%. Regional investors are also looking ahead to data expected to be released Tuesday on China's manufacturing sector. The rally in Asia paralleled the rise that ended the previous week on Wall Street, when the S&P 500 rose 39.37, or 0.9%, to 4,509.37 to top its prior all-time high set on Wednesday. The Dow Jones Industrial Average climbed 242.68 points, or 0.7%, to 34,455.80, and the Nasdaq composite gained 183.69, or 1.2%, to 15,129.50.