Asian stocks build on Wall St records after US inflation data

Asian traders extended a rally across world markets Thursday as they welcomed figures showing US inflation slowed further last month, tempering concerns about the Federal Reserve’s forecast of just one interest rate cut this year.

The weaker-than-expected May consumer price index marked a second successive month of slowing — to a more than three-year low — and boosted optimism that the central bank would be able to soften monetary policy after a long-running campaign of tightening.

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