Asian shares rise on optimism about US, China economies TOKYO (AP) — Asian shares were mostly higher Wednesday as regional markets looked to strong economic signs out of the U.S. and China as drivers of growth. Benchmarks rose in Japan, China and Australia, although shares dipped in South Korea. Analysts warned major risks remain, such as surging cases of COVID-19 in some countries in Asia, worries about global inflation and China’s policies to curb infections. “Expectations of economic growth in China and the U.S. will likely remain key to gauging recession fears. China’s ‘zero-COVID’ policy is still an important headwind for global growth,” said Anderson Alves at ActivTrades. Japan’s benchmark Nikkei 225 added 1.2% to finish at 29,222.77. Australia’s SP|ASX 200 rose 0.3% to 7,127.70. South Korea’s Kospi lost 0.5% to 2,521.84. Hong Kong’s Hang Seng added 0.6% to 19,948.66, while the Shanghai Composite edged up 0.5% to 3,292.53. In New Zealand, the central bank raised its benchmark interest rate from 2.5% to 3% as it continues trying to battle inflation.