Asian Stocks and Bitcoin Rally Ahead of US Inflation Data
• Equities in Asia rose ahead of US inflation data that will indicate future Fed interest rate moves. Bitcoin surged past $61,000 to its highest level in over 2 years.
• Chinese stocks rebounded after recent selloffs. Investors look ahead to further support measures at next week's National People's Congress meetings.
• Bitcoin extended gains, reflecting new demand from exchange traded funds. The cryptocurrency almost touched $64,000.
• Declines for US stocks came as consumer spending data showed strength despite GDP growth revisions. Markets await the Fed’s favored inflation gauge on Thursday.
• The yen climbed the most in over a week against the dollar after a Bank of Japan board member signaled momentum for ending negative interest rates.