Asia up after Wall Street sets record high, dollar on defensive

By Shinichi Saoshiro TOKYO (Reuters) - Asian shares rose on Friday after Wall Street set another record high with prospects for a Federal Reserve rate hike in June all but quashed, while the dollar was on the defensive after downbeat U.S. data. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.9 percent with South Korean, Australian and Hong Kong shares posting sizeable gains. The Bank of Japan kept its policy as widely expected.