Asian Stocks Rise as US Inflation Data Eases Fed Rate-Hike Fears
Asian equities climbed after softer-than-feared US inflation data reduced worries over an imminent Federal Reserve rate hike, with Japan and South Korea gaining.
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Asian stocks advanced after US inflation data came in softer than feared, reducing concerns that the Federal Reserve could hike rates imminently. The MSCI Asia Pacific Index gained 0.6%, while markets in Japan and South Korea moved higher.
The regional advance followed gains on Wall Street, where the S&P 500 pushed closer to a record and the Nasdaq 100 reached a one-month high.
The market reaction suggests investors welcomed the cooler inflation signal as a reason to scale back near-term tightening expectations.
Source: First Squawk