Global Markets Soar: Tech-Driven Asian Surge Amid Stable Inflation

Asian stock markets rallied on Thursday, following Wall Street's tech-driven gains, as stable U.S. consumer inflation solidified expectations of a Federal Reserve interest-rate cut. Japan's Nikkei surged past 40,000, uplifted by chip-sector growth and a weakening yen, while other Asian indices also marked significant gains.

Asian stocks rallied on Thursday, mirroring an overnight tech-led surge on Wall Street driven by anticipated U.S. inflation figures. Market confidence in a Federal Reserve rate cut next week was reinforced, pushing Japan's Nikkei index past 40,000, a milestone not seen since mid-October, boosted by chip-sector shares.

The Australian dollar saw a strong rise, underpinned by robust employment data, rebounding from recent declines post-Reuters' report on China's monetary strategies. China's stabilization of the yuan's midpoint rate supported the currency above recent lows, reflecting ongoing economic strategies impacting global trading partners.

Major Asian indices responded positively, with South Korea's KOSPI and Hong Kong's Hang Seng both climbing significantly. In the U.S., tech-heavy indices made notable gains, with the Nasdaq crossing a new threshold above 20,000, indicating robust market activity amid evolving fiscal policies and economic data.

(With inputs from agencies.)