Asian stocks rise on US inflation cheer, positive data from Japan, China

Investing.com-- Asian stocks rose on Thursday as more signs of cooling U.S. inflation ramped up hopes for interest rate cuts by the Federal Reserve, while a slew of positive economic indicators from the region also aided sentiment.

The positive GDP reading presented an improved outlook for the Japanese economy, especially after a steep contraction in the first quarter. It also tied into the Bank of Japan’s outlook that improved wages will drive increased spending in the coming months, underpinning local growth and supporting domestically-exposed stocks.

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