Asian shares bounce back, shrugging off inflation concerns

By ELAINE KURTENBACH
AP Business Writer

Asian shares have bounced back after losses earlier in the week, shrugging off the latest data showing U.S. wholesale prices soared 11% in April from a year earlier. Oil prices and U.S. futures also were higher. Investors are puzzling over what’s next with inflation and the U.S. central bank’s response to it. The S&P 500 erased most of an early slump to end down just 0.1%, while the Dow Jones Industrial Average lost 0.3%. The Nasdaq eked out a gain of 0.1%. The sizzling producer price index for April followed a hot report on inflation at the consumer level on Wednesday.