Wall Street

Asian shares join global rally on softer-than-expected U.S. inflation

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Reuters UK

By Stella Qiu and Alun John BEIJING/HONG KONG (Reuters) – Asian shares tracked Wall Street higher on Thursday after a softer-than-expected U.S. inflation report encouraged bets of less aggressive rate hikes from the Federal Reserve, while the dollar remained bruised after its biggest plunge in five months. U.S. consumer prices were unchanged in July compared with June, when they rose a monthly 1.3%. The July result was lower than expectations due to a sharp drop in the cost of petrol, causing markets to reposition on hopes that inflation was peaking. MSCI’s broadest index of Asia-Pacific share…

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