TOKYO (AP) \u2014 Asian shares traded mostly higher Monday, cheered by a record finish last week on Wall Street. Japan\u2019s\u2026<\/p>\n
TOKYO (AP) \u2014 Asian shares traded mostly higher Monday, cheered by a record finish last week on Wall Street. <\/p>\n
Japan\u2019s benchmark Nikkei 225 jumped 1.5% in morning trading to 45,729.33, rebounding from the decline late last week over concerns about the Bank of Japan\u2019s selling its holdings. Such concerns abated as markets began to see any move as gradual. <\/p>\n
Australia\u2019s S&P\/ASX 200 rose 0.4% to 8,811.10. South Korea\u2019s Kospi gained 0.8% to 3,472.82. Hong Kong\u2019s Hang Seng slipped 0.9% to 26,306.60, while the Shanghai Composite was little changed, inching up less than 0.1% to 3,821.83. <\/p>\n
The S&P 500 rose 0.5% to close out its sixth winning week in the last seven. The Dow Jones Industrial Average added 172 points, or 0.4%, and the Nasdaq composite climbed 0.7%. All three hit all-time highs for a second straight day<\/a>. <\/p>\n The S&P 500 rose 32.40 points to 6,664.36. The Dow Jones Industrial Average added 172.85 to 46,315.27, and the Nasdaq composite climbed 160.75 to 22,631.48.<\/p>\n The rally has come on the back of expectations that the Federal Reserve will continue to cut interest rates in order to give the economy a boost. The central bank lowered them for the first time this year <\/a> last Wednesday.<\/p>\n If the Fed keeps cutting interest rates, that could give the struggling housing market a boost. But the growing expectations mean the market could be in for a disappointment and drop sharply if the Fed does not cut as much as traders expect. <\/p>\n