Asian Shares, Wall Street Hold Gains After Fed Signals It May Taper Soon

A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, on July 19, 2021. Andrew Kelly/Reuters

Asian shares were mostly higher on Thursday after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year.

Shares rose in Hong Kong, Shanghai, Australia, and Taiwan but fell in South Korea and Malaysia. U.S. futures were higher. Markets were closed in Tokyo.