Asian stocks follow Wall St higher as inflation fears ease

Asian stock markets have followed Wall Street higher as inflation fears eased and investors regained an appetite for risk

BEIJING -- Asian stock markets followed Wall Street higher Tuesday as inflation fears eased and investors regained an appetite for risk. Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul advanced. Overnight, Wall Street’s benchmark S&P 500 index rose 1%, recovering about half of last week’s losses. Gains were led by tech stocks. Investors worry a global economic recovery might be hampered if rising inflation prompts governments and central banks to withdraw stimulus. But a Federal Reserve official helped to allay some of those fears when he said Tuesday the U.S. central bank shouldn’t look at changing policy in the midst of the coronavirus pandemic. “U.S. markets delivered a positive start for the week, as easing inflation concerns drive a bounce in tech,” said Yeap Jun Rong of IG in a report.