Asian shares mostly higher after US Fed signals on low rates

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are mostly 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. Benchmarks in Japan, Australia and Shanghai rose Monday, while shares were little changed in South Korea and declined in Hong Kong. Regional investors are also looking ahead to data on China’s manufacturing sector. The rally in Asia paralleled a rise on Wall Street last week. The speech by Fed Chair Jerome Powell was key, as U.S. stocks have set records in large part because of the Fed’s massive efforts to prop up the economy.