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- Mexico mayor murdered days after taking office
- Sardinia's sheep farmers battle bluetongue as climate warms
- Japan govt admits doctoring 'untidy' cabinet photo
- Israel marks first anniversary of Hamas's October 7 attack
- Darvish tames Ohtani as Padres thrash Dodgers
- Asian markets track Wall St rally on jobs data
- Family affair as LeBron, Bronny James make Lakers bow
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- As Great Salt Lake dries, Utah Republicans pardon Trump climate skepticism
- Amazon activist warns of 'critical situation' ahead of UN forum
- Mourners pay tribute to latest victims of deadly Channel crossing
- Tunisia incumbent Saied set to win presidential vote: exit polls
- Phillies win thriller to level Mets series
- Yu bags first PGA Tour win with playoff win
- PSG held by Nice to leave Monaco clear at top of Ligue 1
- AC Milan fall at Fiorentina after De Gea's penalty heroics
- Lewandowski treble for leaders Barca as Atletico held
- Fresh Israeli strikes hit south Beirut
- Sucic stunner earns Real Sociedad draw against Atletico
- PSG draw with Nice, fail to reclaim top spot in Ligue 1
- Gudmundsson downs AC Milan after De Gea's penalty heroics for Fiorentina
- 'Yes' vote prevails in Kazakhstan nuclear plant vote: TV
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Lewandowski hat-trick powers Liga leaders Barca to Alaves victory
- 'Nothing gets in way of team,' says Celtics' MVP hopeful Tatum
- India maintain Pakistan stranglehold as Windies cruise at Women's T20 World Cup
- 'We will win!': Mozambique's ruling party confident at final vote rally
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Florida braces for Milton, FEMA head slams 'dangerous' Helene misinformation
- Postecoglou slams 'unacceptable' Spurs after 'terrible' loss at Brighton
- Marmoush double denies Bayern outright Bundesliga top spot
- Rallies worldwide call for Gaza, Lebanon ceasefire
- Maresca hails Chelsea's 'fighting' spirit after draw with 10-man Forest
- New 'Joker' film, a dark musical, tops N.America box office
- Man Utd stalemate keeps Ten Hag in danger, Spurs rocked by Brighton
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Vikings hold off Jets in London to stay unbeaten
- Ahead of attack anniversary, Netanyahu says: 'We will win'
- West Indies cruise to T20 World Cup win over Scotland
- Arshdeep, Chakravarthy help India hammer Bangladesh in T20 opener
- Lewandowski's quickfire hat-trick powers Liga leaders Barca to Alaves victory
- Man Utd fire another blank in Aston Villa stalemate
- Lewandowski treble powers Liga leaders Barca to Alaves victory
- Russian activist killed on front line in Ukraine
- Openda strike briefly sends Leipzig top of Bundesliga
- Goal-shy Man Utd have to 'step up', says Ten Hag
- India bowl out Bangladesh for 127 in T20 opener
Global stocks follow Wall Street climb
Markets in Asia and Europe mostly mirrored positive strides on Wall Street Thursday, as easing US consumer inflation buoyed hopes that a big interest rate cut was around the corner, and as economic growth in Japan outpaced expectations.
The eagerly awaited US consumer price index (CPI) data showed a 2.9 percent rise last month from a year ago -- its smallest 12-month increase since March 2021 -- setting the stage for the Federal Reserve to start cutting interest rates.
Traders were optimistic that a cut at the September meeting could exceed the anticipated 25 basis points, with some observers eyeing as much as 50.
"The current buzz isn't about whether the Fed will trim rates at its spotlight-stealing September 17-18 gathering but how deep they'll dig into the cuts," analyst Stephen Innes said in his Dark Side Of The Boom newsletter.
Positive growth figures from Japan meant the Nikkei 225 led the Asian surge, as the world's fourth-largest economy reported a better-than-expected GDP rise of 0.8 percent for the second quarter.
The news came a day after Prime Minister Fumio Kishida said he would step down next month as his poll ratings tumbled ahead of next year's elections due to price rises that have eaten into Japanese incomes, as well as a slew of scandals.
"Consumer sentiment should have improved because real wages have turned positive as promised wage increases start to get paid to workers," Hiroyuki Ueno, chief strategist at SuMi Trust, said before the data's release.
"In addition, the recovery in shipments by some automakers, some of which were suspended temporarily in May, will also have been a positive boost for consumer spending."
News from China, meanwhile, was not as bullish, with industrial production slowing and unemployment rising in July. Consumer spending marginally beat analyst expectations.
The uninspiring data dampened slim hopes for the start of an economic revival in Asia's biggest market.
"This snapshot of a once thriving economy underscores a persistent drag on domestic demand, not significantly alleviated by governmental initiatives aimed at boosting consumption and addressing imbalances in the recovery process," Innes said.
"No amount of rate cutting seems to entice consumer spending if confidence in the economy or personal financial security is lacking."
Despite the underwhelming news, Shanghai closed nearly a percent higher, while Hong Kong was marginally lower.
Seoul, Sydney and Singapore were also up, while Taipei, Jakarta and Bangkok ticked down.
European markets also began the day on a positive note, with London, Paris and Frankfurt all starting higher.
- Key figures around 0720 GMT -
Tokyo - Nikkei 225: UP 0.8 percent at 36,726.64 (close)
Hong Kong - Hang Seng Index: DOWN 0.1 percent at 17,094.64
Shanghai - Composite: UP 1.0 percent at 2,877.36 (close)
London - FTSE 100: UP 0.1 percent at 8,287.35
Paris - CAC 40: UP 0.2 percent at 7,347.62
Frankfurt - DAX: UP 0.4 percent at 17,956.67
Euro/dollar: UP at 1.1013 from $1.1012 on Tuesday
Pound/dollar: UP at $1.2857 from $1.2829
Dollar/yen: DOWN at 147.24 yen from 147.43 yen
Euro/pound: DOWN at 85.66 pence from 85.83 pence
West Texas Intermediate: UP 0.4 percent at $77.33 per barrel
Brent North Sea Crude: UP 0.4 percent at $80.07 per barrel
New York - Dow: UP 0.6 percent at 40,008.39 points (close)
M.Fischer--AMWN