Economic news

Asian stock markets shrug off rising U.S. inflation

Asian shares gained on Thursday after Wall Street advanced despite strong U.S. inflation data, which could lead to more aggressive Fed's monetary policy this year.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares leaped 1.3 percent.

Japan’s Nikkei climbed 1.5 percent after three straight days of decline that took it to a four-month trough in the previous session.

Australia’s S&P/ASX 200 Index edged up 1.15 percent and South Korea’s KOSPI rose 1.1 percent.

Hong Kong’s Hang Seng Index soared 2 percent.

Wall Street crept up on Wednesday, with the Dow up 1 percent and the S&P 500 increasing 1.34 percent despite stronger-than-expected inflation figures.

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