Asian shares rise as Wall Street tech gain boosts optimism
ABC News
Asian shares are mostly higher, tracking an overnight rally on Wall Street as investors sought out bargains, including technology stocks
TOKYO -- Asian shares were mostly higher on Thursday, tracking an overnight rally on Wall Street as investors sought out bargains, including technology stocks.
Benchmarks rose in Tokyo, Seoul and Sydney. Markets in Hong Kong were closed for a holiday.
The Shanghai Composite index was little changed, at 3,561.91, after the government reported a surge in producer price inflation, which rose to a record 10.7% over a year earlier in September from 9.5% in August.
Much of the increase was due to surging coal prices, which appear not to have fed into consumer prices even as parts of the country contend with power shortages, Capital Economics said in a report. Consumer price inflation slipped to 0.7% from 0.8% in August.
