Global stocks rise as market bets on better US inflation data

A man looks at a screen displaying stock price movements at the Moscow Exchange office in Moscow.BEIJING - Global stock markets mostly rallied on Wednesday as investors were buoyed by optimism over China's reopening and upcoming data expected to show a further slowdown in US inflation.

"An upside bias is winning out thus far based on a prevailing view that weakening economic activity and fading inflation will help the Fed realize that it does not need to raise rates much further," market analyst Patrick O'Hare at Briefing.com said. Over the past year, the Fed has raised interest rates aggressively to combat decades-high inflation in the United States, though it has since eased its pace of increases.

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