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Asian Stocks Advance After Wall Street Rally as CPI Surprise Lifts Risk Appetite
Asian markets climbed as soft U.S. CPI boosted global risk appetite, with Nikkei up 0.62% and Hang Seng gaining 0.33%.
Asian equities traded higher on Wednesday, tracking overnight gains in U.S. markets after inflation data came in below estimates. Japan’s Nikkei rose 0.62%, Hong Kong’s Hang Seng gained 0.33%, and South Korea’s Kospi advanced 0.45%. Investors viewed the U.S. CPI print of 3.2% as confirmation that the Federal Reserve may pause further rate hikes, bolstering sentiment toward cyclical sectors.
Regional currencies strengthened modestly against the dollar, while oil prices remained steady near $82 per barrel. Analysts expect sustained momentum if U.S. yields remain contained.