Asian stocks soar as inflation concerns ease after US report

Chinese stocks rally by the most in about two months helped by strong lending data, while oil prices climb.

Asian stocks extended their rebound from a two-month low on Thursday after a report on United States consumer prices calmed concerns about inflation and lifted the Dow Jones Industrial Average to a record close. An index of regional stocks excluding Japan rose 1.7 percent, led by a 2.3 percent surge in South Korea’s KOSPI, and was on track for its first three-day advance in three weeks. China’s Shanghai Composite rallied 1.9 percent and the CSI 300 index rallied 2.5 percent, the most in about two months, helped by strong local lending data. Japan’s Nikkei 225 gained 0.5 percent. E-mini futures for the United States’s S&P 500 Index rose 0.5 percent suggesting gains at the open of trading in New York.