Asian shares bounced and the safe-haven dollar edged lower on Tuesday as investors hoped this week’s U.S. inflation data supports an imminent end to rate hikes and cheered the prospect China will deliver economic stimulus to prop up stalling growth.
“U.S. CPI will be coming into focus, with the associated event risk potentially adding to the vibe,” ANZ analysts said in a note.China’s blue-chip CSI300 index was 0.4 percent higher in early trade. Hong Kong’s Hang Seng index opened up 1.03 percent.
On Monday, U.S. stocks ended higher following last week’s losses while Fed officials’ comments bolstered the view that the U.S. central bank may be near the end of its tightening cycle.On Wall Street, the Dow Jones Industrial Average rose 0.62 percent, the S&P 500 gained 0.24percent and the Nasdaq Composite added 0.18. percentS&P 500 company earnings are due to kick off this week with reports from some big U.S. banks. Analysts expect earnings to have fallen 6.
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