Asian stocks rose on Friday after the latest U.S. consumer and producer price data confirmed a slowdown in inflation. There is a broad sense among market participants that larger 75 basis point U.S. rate hikes are off the table for now.
China's Shanghai Composite Index jumped 1 percent to 3,084.28 after officials denied rumors that Beijing will be put into a Shanghai-style lockdown because of a persistent Covid-19 outbreak. Separately, Shanghai said it is aiming to reach zero-COVID at the community level in the next few days.
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