TOKYO (AP) — Asian shares advanced Monday at the start of a busy week for U.S. economic updates. Investors have been encouraged by easing worries over inflation, which reduces the likelihood of another rate hike by the Federal Reserve. Japan's benchmark Nikkei 225 jumped 2.5% in morning trading to 70,037.61. It was the benchmark's first foray above 70,000 points in three months. Australia's S&P/ASX 200 edged up 0.1% to 8,691.90. Hong Kong's Hang Seng was unchanged at 23,971.55. Trading was closed in Shanghai and South Korea for national holidays. Interest in shares related to artificial intelligence drew buying interest. In Japan, Tokyo Electron gained 5.5% and technology investment giant SoftBank Group's shares gained 3.3%.
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