Asia report: Japan shares temper gains after Abe shooting

Asian shares were broadly higher on Friday, tracking gains on Wall Street although Japan’s Nikkei pared earlier gains after the attempted assassination of former Prime Minister Shinzo Abe.

The Japanese benchmark was up 1.23% in morning trade before news of the shooting hit sentiment, leaving the market up 0.10% at 26,517.19.

Abe was shot while giving a campaign speech in western Japan on Friday. He was shot in the chest and neck. A male suspect was arrested at the scene.

Prime minister Fumio Kishida said Abe was in a critical condition. “Currently doctors are doing everything they can, at this moment. I am hoping and praying that former prime minister Abe will survive this,” he added.

Across the region most markets were higher, with the exception of Hong Kong’s Hang Seng and the Singaporean Straits Times.

US shares were higher overnight on positive signals from Federal Reserve officials. Governor Christopher Waller called recession fears "overblown," while St. Louis Fed Bank President James Bullard said he saw a "good chance" of a soft landing for the economy.