(AP Photo/Lee Jin-man)Asian shares were mostly higher Friday as hopes grow that the U.S. Congress will reach a deal to avoid defaulting on the nation’s debt. Chinese shares fell on renewed worries set off by signs an extended lockdown over the coronavirus pandemic was hurting sales. Wall Street shares rose after more companies reported better profits than expected, while yields climbed after a Federal Reserve official cautioned the end to its interest-rate hikes may not arrive as soon as Wall Street hoped. But Dallas Fed President Lorie Logan cooled some of those hopes in a prepared speech for the Texas Bankers Association. The two-year yield, which moves more on expectations for the Fed, rose to 4.25% from 4.16%.

Source: thestar May 19, 2023 10:43 UTC