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Global shares are mostly higher, buoyed by another rally on Wall Street fueled by hopes that cooling inflation will help stave off interest rate hikes in coming months TOKYO -- Global shares are mostly higher, buoyed by another rally on Wall Street fueled by hopes that cooling i NFL ation will help stave off more interest rate hikes. France's CAC 40 gained 0.3% in early trading to 7,394.68. Germany's DAX fell 0.1% to 16,121.61. Britain's FTSE 100 edged 0.2% higher to 7,453.21. The futures for the Dow Jones Industrial Average and S &P 500 fell less than 0.1%. China will release an update on economic growth in the April-June quarter on Monday. Analysts are forecasting that growth accelerated to more than 7% from a year earlier, up from 4.5% in the previous quarter, but largely due to sluggish business activity while the country was enduring its worst waves of COVID-19 outbreaks. In Asian trading, Japan’s benchmark Nikkei 225 lost earlier gains, finishing down 0.1% at ...

Asian shares have fallen sharply after several central banks around the world cranked interest rates higher in their fight against inflation BANGKOK -- Asian shares sank sharply Friday after several central banks around the world cranked interest rates higher in their fight against inflation. Hong Kong and Tokyo shed nearly 2% and most other regional markets declined. U.S. futures and oil prices also were lower. Japan reported its inflation rate was higher than expected, adding to expectations the central bank might adjust its policies to reflect upward price pressures, which have pushed the dollar's value against the yen sharply higher. The Bank of Japan has kept its benchmark interest rate at minus 0.1% for a decade as policymakers keep credit cheap to encourage more investment and spending. The core inflation rate, excluding volatile energy and food prices, was 3.2% in May, above the official 2% target for a 14th straight month, the government reported. “We think there are signs...