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The Independent UK

National

Joe McDonald

Asian stocks surge after lower US inflation eases rate fears

Inflation Asia United States IG US Federal Reserve

Copyright 2022 The Associated Press. All rights reserved.

Asian stock markets surged Friday after U.S. inflation eased by more than expected, spurring hopes the Federal Reserve might scale down plans for more interest rate hikes.

Hong Kong's market benchmark jumped 5.7% and Seoul rose 3.3%. Shanghai, Tokyo and Sydney advanced. Oil prices edged higher.

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