Asian Markets Surge Amid U.S. Inflation and Rate Cut Speculations

Asian stocks rose on Thursday in response to a tech-led rally on Wall Street, following U.S. inflation data that supports a Federal Reserve interest-rate cut. The Japanese Nikkei reached a historic high, boosted by chip shares and a depreciating yen, while the Australian dollar strengthened alongside other major Asian indices.

On Thursday, Asian stocks experienced significant gains, echoing Wall Street's tech-driven rally overnight. This was after U.S. consumer inflation data reinforced expectations for a Federal Reserve interest-rate cut in the coming week.

Japan's Nikkei index soared above 40,000 for the first time since mid-October, driven by chip-sector stock increases and a weaker yen. The weakening currency helped exporters, while the Australian dollar rebounded strongly after better-than-expected employment figures.

The technology-heavy Nikkei climbed 1.5% at 0202 GMT, with the Topix rising 1.2% as regional indices, including South Korea's KOSPI and Taiwan's benchmark also advanced, reflecting robust investor sentiment across Asian markets.

(With inputs from agencies.)