SINGAPORE: Asian shares spiked higher on Friday , while the dollar nursed steep losses after a smaller-than-expected increase in US consumer prices fuelled hopes that the Federal Reserve could tone down its aggressive pace of interest rate hikes.
The US consumer price index climbed 7.7 per cent year on year - the first time since February that the annual increase was below 8 per cent, and the smallest gain since January. Overnight, the S&P 500 and Nasdaq notched up their biggest daily percentage gains in over 2-1/2 years on the data.
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Asia stocks surge as cooling inflation feeds hopes Fed will ease upSINGAPORE : Asian shares spiked higher on Friday, while the dollar nursed steep losses after a smaller-than-expected increase in U.S. consumer prices fuelled hopes that the Federal Reserve could tone down its aggressive pace of interest rate hikes. MSCI's broadest index of Asia-Pacific shares outside Japa
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