Asia-Pacific Markets Trade Higher After U.S. Stocks Rally for a Second Day

"There is no denying incoming U.S. economic data is having a hand in equity, bond and currency moves so far this week," wrote Ray Attrill, head of FX strategy at National Australia Bank.that couldn't be ignored, he wrote. It's the"first meaningful sign of some cracks" in the labor market, though it is still very tight, he added.

Consumer prices in South Korea rose less than expected in September from a year ago, official data showed. The CPI print came in at 5.6%, compared with 5.7% that economists polled by Reuters predicted. Prices rose 5.7% in August. September's reading marks a second month of softening in inflation, and the slowest growth in four months.

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