Asian shares mostly higher after wobbly day on Wall Street

BANGKOK (AP) — Asian shares were mostly higher Tuesday after a wobbly day on Wall Street as markets cooled off following a rare winning week.

Oil prices pushed higher and U.S. futures also advanced.

Rising energy prices and Treasury bond yields were weighing on sentiment after last week's rally, and investors were awaiting remarks expected for midweek by central bank leaders including Federal Reserve Chair Jerome Powell and European Central Bank chief Christine Lagarde, analysts said.

Investors will get an update on U.S. economic growth on Wednesday when the Commerce Department releases a report on first-quarter gross domestic product. U.S. consumer confidence data is also on the agenda in a week that has few other major economic releases. So some investors have adopted a “wait and see" stance, said Jun Rong Yeap of IG.

“Investors and traders are worried about the soaring inflation situation and weak economic growth, and these two factors continue to flash red signs on their trading dashboards," Naeem Aslam of Avatrade.com said in a commentary. “The question that traders are asking is if the bear market rally is over."

Tokyo's Nikkei 225 index gained 0.7% to 27,049.47 while the Kospi in Seoul added 0.8% to 2,422.09. Australia's S&P/ASX 200 climbed 0.9% to 6,763.60.

Chinese shares have gotten a boost from the easing of pandemic restrictions as the country's latest wave of outbreaks abates.

Hong Kong's Hang Seng index reversed early losses, gaining 0.7% to 22,384.57, and the Shanghai Composite index jumped 0.9% to 3,409.21.

Shares fell in Taiwan and India but rose in Bangkok.

Oil prices extended gains after surging on Monday amid reports that producers in the Middle East were at or near maximum capacity, with little leeway to boost production.

Benchmark U.S. crude...