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Asian Stocks Advance After Wall Street Rally as CPI Surprise Lifts Risk Appetite
Asian markets climbed as soft U.
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.