Asian stocks rise on earnings optimism as US data approaches

Global traders are in bullish mood after a recent sell-off, with US earnings and inflation data in view. Photo: SPENCER PLATT / GETTY IMAGES NORTH AMERICA/Getty Images via AFPAsian equities extended the week's gains Wednesday following a strong rally on Wall Street and another record in London, as traders cheered more upbeat earnings reports and data indicating a slowdown in US economic activity.

All three main indexes in New York enjoyed a bump Tuesday, with the Nasdaq and S&P 500 each piling on more than one percent. Investors are also gearing up for the release of some major US data this week, with the standout being the personal consumption expenditures index -- the Fed's preferred gauge of inflation.

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