Asian shares broadly higher as investors weigh mixed US economic signals

Asian equity markets rose broadly on Monday as investors assessed a fresh batch of US economic data following last week's pullback on Wall Street, with the readings easing some fears of an aggressive interest-rate hike while stoking fresh concern about the trajectory of the US economy. Traders across the region recalibrated monetary-policy expectations after the US indicators sent mixed signals on growth, prompting a recovery in regional risk appetite. Stocks in advanced and emerging markets alike moved as investors weighed the trade-off between interest rates and growth, while fresh manufacturing and services data added to questions about the outlook for global demand. The softer US data on the likely pace of rate increases supported demand for risk assets in the near term, helping regional indexes extend their gains.