Global markets rally on encouraging inflation data and economic resilience
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Asian shares rallied after encouraging US inflation report and Wall Street rally. Tokyo's Nikkei rose despite Japan's economy contracting.
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Hong Kong's Hang Seng and Shanghai Composite gained on economic data showing economy holding up despite slowing indicators.
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On Wall Street, S&P 500 had best day since April, surging nearly 2%. Tech stocks like Amazon and Nvidia jumped on hopes of smaller rate hikes.
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Lower inflation raised odds of fewer rate hikes, spurring widespread rally. Small cap stocks surged over 5% for best day in a year.
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Treasury yields tumbled on reduced rate hike outlook. Dollar fell against other currencies, while gold rose. Real estate and bank stocks jumped on potential reduced pressure.