Asian shares advance as investors await US growth data

Asian stock markets have risen as inflation fears eased and investors looked ahead to U.S. data that are expected to show economic growth accelerating

BEIJING -- Asian stock markets rose Wednesday as inflation fears eased and investors looked ahead to U.S. data that are expected to show economic growth accelerating. Benchmarks in Shanghai, Tokyo and Hong Kong advanced. Seoul swung between gains and losses. Overnight, Wall Street's S&P 500 index slipped 0.2%, giving up some of the previous day's 1% gain. Investors worry stronger inflation might prompt governments and central banks to roll back economic stimulus. They have been reassured by comments from U.S. Federal Reserve officials that they see no need yet to change course.