Asian shares swing higher after a wobbly day on Wall Street

Asian shares swing higher after a wobbly day on Wall Street 11 mins ago Shares have swung higher in Asia as hopes for a U.S. interest rate cut helped to offset worries over simmering trade tensions between Washington and Beijing. U.S. futures edged higher while oil prices retreated. Benchmarks rose more than 1% early Wednesday in Tokyo, Hong Kong, South Korea and Taiwan. On Tuesday, the S&P 500 gave up an afternoon gain and closed 0.2% lower. The Dow Jones Industrial Average climbed 0.4%, and the Nasdaq composite dropped 0.8%. Federal Reserve Chair Jerome Powell signaled that the Fed is slightly more worried about the job market, raising expectations that the central bank will come through with another rate hike.