Asian stocks extended their rebound from a two-month low on Thursday after a report on U.S. consumer prices calmed concerns about inflation and lifted the Dow Jones Industrial Average to a record close, Reuters reports. An index of regional stocks excluding Japan gained by 0.7 percent, led by a 1.7 percent surge in South Korea’s Kospi, and was on track for its first three-day advance in three weeks. China’s Shanghai Composite rallied by 1.6 percent, while Japan’s Nikkei 225 gained by 0.5 percent. “The reflation trade is back on,” said Michael McCarthy, chief markets strategist at CMC Markets. “We saw bonds and stocks rallying together and a slight easing in the U.S. dollar, which also indicates improving sentiment.”

Source: The Standard March 11, 2021 03:33 UTC