Stock market today: Asian shares mostly rise after Fed chief speech

Asian shares are trading mostly higher, as investors felt relief from the head of the Federal Reserve indicating it will “proceed carefully” on interest rates. Benchmarks rose in Tokyo, Seoul, Hong Kong and Shanghai. Share rose in Sydney after data on Australian retail sales showed they rose at a higher than expected 0.5%. Wall Street recorded its first winning week since July. The Fed has already hiked its main rate to the highest level in 2001 in hopes of driving down inflation. Powell said the Fed may raise interest rates again, if needed, but he acknowledged the risks, too.