Asia stocks firm, dollar sags with US yields on Fed cut bets

TOKYO - Asian stocks were firm on Thursday while the dollar remained on the back foot amid lower U.S. Treasury yields after benign consumer inflation data overnight reinforced bets for the Federal Reserve to start cutting interest rates next month.

The 10-year Treasury yield ticked up slightly to 3.84% in Asian hours, after dipping to as low as 3.811% on Wednesday. Sterling remained depressed after soft UK inflation figures hinted at faster, deeper Bank of England rate cuts. The currency was flat at $1.2824 after sagging 0.3% on Wednesday. Dow Jones futures: The stock market rally slightly added to Tuesday's gains. Ferrari led new buys. Warren Buffett's Berkshire disclosed a stake in Ulta Beauty.Ernst & Young and KPMG have snapped up over half of PwC's corporate clients in China that have fled the market's leading accounting firm as it faces a regulatory probe, filings show.

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