Asian Shares Rise Amid U.S. Inflation Hopes, Kiwi Dollar Slumps

Asian shares saw a boost on Wednesday following the release of softer U.S. producer prices data, raising hopes for mild consumer price inflation. The kiwi dollar plummeted after New Zealand's central bank cut interest rates for the first time since early 2020.

European stock futures indicated a higher open as British inflation figures for July came in lower than anticipated. U.S. equity futures remained flat, yet Wall Street rallied strongly on the same U.S. inflation data.

The announcement of Japanese Prime Minister Fumio Kishida's impending resignation added to the news flow, causing some volatility in the yen and Nikkei. Meanwhile, in commodities, crude oil prices saw a modest increase while gold edged slightly higher.

(With inputs from agencies.)