Asian shares track Wall St gains on cooler inflation data
Stocks are higher in Asia after a rally on Wall Street spurred by news that inflation in the U.S. cooled more than expected last month
BANGKOK (AP) — Stocks rose Wednesday in Asia after a rally on Wall Street spurred by news that inflation in the U.S. cooled more than expected last month.
The 7.1% consumer price index reading for November raised hopes Tuesday for easing pressure on the economy ahead of an interest rate policy update from the U.S. Federal Reserve.
The Fed is widely expected to raise its benchmark rate a half-point Wednesday, smaller than the past four hikes of three-quarters of a point.
Also Wednesday, the Bank of Japan’s quarterly “tankan” survey showed a deterioration in business conditions for major Japanese manufacturers, reflecting higher costs for industrial inputs and energy and weaker demand as the Fed and other central banks raise interest rates to tame inflation.
