Global stocks hit record high as inflation fears ease

US consumer prices rose at the fastest pace in eight years in March, but investors believe inflation is under control.

Global equity markets rose to a fresh record high on Wednesday as bond yields eased after data showed inflation in the United States was not rising wildly. Most Asia-Pacific share indexes followed Wall Street higher, while benchmark US Treasury bond yields continued their decline, marking a fresh three-week low. Japan bucked the trend, with the Nikkei falling 0.4 percent as rising coronavirus cases raised doubts about an economic reopening with 100 days to go until Tokyo is scheduled to host the Olympics.