Asian stock markets are trading mostly higher on Thursday, despite the broadly negative cues from global markets overnight, as hotter than expected US inflation data raised the prospect of more aggressive Federal Reserve tightening to rein in 41-year high inflation. Asian Markets closed mostly higher on Wednesday.
However, the Fed released its Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, which noted U.S. economic activity has expanded at a modest pace since mid-May.
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