Asian shares surge in slower US inflation

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Asian markets surged on Friday after a bumper session on Wall Street as lower US inflation dimmed expectations of more aggressive Federal Reserve rate hikes.
Hong Kong stocks rocketed six percent at the open while Tokyo’s key Nikkei index jumped more than three percent, although both had retreated slightly by mid-morning.
The gains extended global rallies after the US consumer price index (CPI) showed that the annual pace of inflation was a lower-than-expected 7.7 percent in October, down from 8.2 percent in September.