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Asian shares gain after Fed chair signals slower rate hikes

FILE - An NYSE sign is seen on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig, File)

A woman walks by monitors showing Japanese companies' stock market prices at a securities firm in Tokyo, Friday, Dec. 2, 2022. Shares retreated in Asia on Friday after a mixed day on Wall Street as optimism over signs the Federal Reserve may temper its aggressive interest rate hikes was replaced by worries the economy might be headed for a recession. (AP Photo/Hiro Komae)

A man walks by monitors showing Japan's Nikkei 225 index and other countries' stock market indexes at a securities firm in Tokyo, Friday, Dec. 2, 2022. Shares retreated in Asia on Friday after a mixed day on Wall Street as optimism over signs the Federal Reserve may temper its aggressive interest rate hikes was replaced by worries the economy might be headed for a recession. (AP Photo/Hiro Komae)

Pedestrians are seen reflected on monitors showing the U.S. NASDAQ and other countries' stock market indexes at a securities firm in Tokyo, Friday, Dec. 2, 2022. Shares retreated in Asia on Friday after a mixed day on Wall Street as optimism over signs the Federal Reserve may temper its aggressive interest rate hikes was replaced by worries the economy might be headed for a recession. (AP Photo/Hiro Komae)

FILE - An NYSE sign is seen on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig, File)

FILE - An NYSE sign is seen on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig, File)

FILE - An NYSE sign is seen on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig, File)

FILE - An NYSE sign is seen on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig, File)

FILE - An NYSE sign is seen on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig, File)

FILE - An NYSE sign is seen on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig, File)

FILE - Street signs at the intersection of Wall and Broad Streets are shown in lower Manhattan, Wednesday, Oct. 13, 2021. (AP Photo/John Minchillo, File)

A man walks by monitors showing the Japanese yen against other foreign currencies at a securities firm in Tokyo, Thursday, Dec. 1, 2022. Shares have advanced in Asia after a rally on Wall Street spurred by the Federal Reserve chair's comments on easing the pace of interest rate hikes to tame inflation.(AP Photo/Hiro Komae)

Tokyo fire department personnel wait for a traffic light, standing by monitors showing Japan's Nikkei 225 index at a securities firm in Tokyo, Thursday, Dec. 1, 2022. Shares have advanced in Asia after a rally on Wall Street spurred by the Federal Reserve chair's comments on easing the pace of interest rate hikes to tame inflation.((AP Photo/Hiro Komae)

A woman walks across an intersection near monitors showing Japan's Nikkei 225 index at a securities firm in Tokyo, Thursday, Dec. 1, 2022. Shares have advanced in Asia after a rally on Wall Street spurred by the Federal Reserve chair's comments on easing the pace of interest rate hikes to tame inflation.((AP Photo/Hiro Komae)

A man walks by monitors showing the Japanese yen against the U.S. dollar at a securities firm in Tokyo, Thursday, Dec. 1, 2022. Shares have advanced in Asia after a rally on Wall Street spurred by the Federal Reserve chair's comments on easing the pace of interest rate hikes to tame inflation.( (AP Photo/Hiro Komae)

A woman uses her phone in front of monitors showing Japan's Nikkei 225 index at a securities firm while waiting for a traffic light in Tokyo, Thursday, Dec. 1, 2022. Shares have advanced in Asia after a rally on Wall Street spurred by the Federal Reserve chair's comments on easing the pace of interest rate hikes to tame inflation.(AP Photo/Hiro Komae)

Asian shares gain after Fed chair signals slower rate hikes