Asian shares mostly rise on relief over US bank strength

Asian shares are higher as investors got some relief from worries over troubled U.S. lenders with a planned takeover of failed Silicon Valley Bank. Benchmarks rose in Tokyo, Sydney, Seoul, Shanghai and Hong Kong. Markets have been in turmoil following the second- and third-largest U.S. bank failures in history. Investors have been hunting for signs of weakness in other banks as the financial system creaks under the pressure of higher interest rates. Wall Street shares steadied Monday, with financial stocks the biggest gainers. First Citizens Bank's stock soared after it said it would buy most of Silicon Valley Bank.