Equity markets rallied after softer-than-expected inflation data in the US and UK rekindled hopes of the end of the rate-hiking cycle by major central banks.
The soft inflation reading drove down bond yields and the US dollar, whetting the appetite for risky assets.
The 10-year US bond yield fell below 4.5 per cent after topping 5 per cent less than a month ago.
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Asian stocks surge, dollar slumps as traders cheer inflation surprise inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.
MSCI s broadest index of Asia-Pacific shares outside Japan was up 1.9% in early trade. Japan s Nikkei was up 1.8%. Overnight the Nasdaq jumped 2.4%, bonds surged and the dollar slumped more than 1.6% on the euro.