Asian shares mostly rise as markets digest Fed moves

A currency trader passes by screens showing the Korea Composite Stock Price Index (KOSPI), center, and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 18, 2021. Asian shares mostly rose Friday, as investors digested the latest message from the U.S. Federal Reserve on raising short-term interest rates by late 2023. - AP

SINGAPORE, June 18 (AP): Asian shares mostly rose Friday, as investors digested the latest message from the US Federal Reserve on raising short-term interest rates by late 2023.

Japan's benchmark lost earlier gains and inched down less than 0.1% in afternoon trading to 29, 009.75. South Korea's Kospi edged 0.2% higher to 3, 272.42. Australia's S&P/ASX 200 rose 0.1% to 7, 368.90. Hong Kong's Hang Seng jumped 0.7% to 28, 769.94, while the Shanghai Composite gained 0.1% to 3, 530.32.