Asian stocks followed Wall Street higher on Thursday after a report showed U.S inflation cooled more than expected in July, reflecting lower energy prices. Slower inflation will mean that the Federal Reserve can moderate its rate hike policy. Japanese markets were closed for a holiday.
China's Shanghai Composite Index rallied 1.6 percent to 3,281.67, while Hong Kong's Hang Seng Index spiked 2.4 percent to 20,082.43.
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