Asian shares gain after earnings-fueled rally on Wall Street

BANGKOK (AP) — Asian shares have risen after solid earnings pushed retailers higher on Wall Street ahead of the Thanksgiving holiday in the U.S. Benchmarks rose in Hong Kong, Seoul and Sydney but fell in Shanghai. Markets were closed in Japan for a holiday. The Reserve Bank of New Zealand raised its benchmark rate by three-quarters of a point to 4.25%. On Tuesday, the S&P 500 rose 1.4% and the Dow Jones Industrial Average added 1.2%. The Nasdaq composite added 1.4%. Treasury yields slipped. Best Buy soared more than 12% after the Minneapolis-based consumer electronics chain did better than analysts expected and said a decline in sales for the year will not be as bad as it had projected earlier.