Asian shares rise as receding debt fears spur Wall St rally

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares have gained, tracking a rally on Wall Street after signs of progress on resolving the standoff in Congress over the debt ceiling. Benchmarks in Japan, South Korea, Australia and Hong Kong are higher in early trading. Shanghai trading is closed for a Chinese national holiday. Analysts say the vaccination rollout will speed up a lifting of measures to curb the spread of COVID-19 restrictions and lead to a gradual regional recovery. But areas where the rollout has been slower are at risk for setbacks. Stocks closed higher on Wall Street as investors recovered from nearly a week of volatility.