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Stocks climb despite rise in U.S. inflation; dollar on defensive

  12
23:30 15-02-2018
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Asian stocks rose on Thursday after Wall Street brushed aside strong U.S. inflation data and surged, in a move that also saw the dollar pinned to two-week lows even as Treasury yields jumped in anticipation of more rapid U.S. interest rate hikes, Reuters reports.

Spreadbetters expected European stocks to also open higher, with Britain’s FTSE seen rising 0.5 percent, Germany’s DAX gaining 1 percent and France’s CAC advancing 0.8 percent.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.3 percent.

Australian stocks climbed 1.15 percent and South Korea’s KOSPI added 1.1 percent. Japan’s Nikkei advanced 1.5 percent following three successive days of losses that took it to a four-month low the previous day.

U.S. shares surged on Wednesday, with the Dow up 1 percent and the S&P 500 climbing 1.34 percent, as investors shrugged off the stronger-than-expected inflation data and snapped up shares of Facebook, Amazon.com and Apple

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