Asian stocks follow Wall St up ahead of US inflation update

BEIJING (AP) — Asian stocks followed Wall Street higher Friday ahead of a United States inflation update traders hope might prompt the Federal Reserve to ease plans for more interest rate hikes.

Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices declined.

Wall Street rose Thursday as worries about the global financial system eased following the collapse of two U.S. banks and one in Switzerland.

Traders hope a measure of U.S. inflation due out Friday that is closely watched by the Federal Reserve will show upward pressure on prices easing. That might prompt the Fed to postpone plans for a possible rate hike at its May meeting.