Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from global markets overnight, as traders remain cautious while they await the release of the U.S. inflation data later in the day for more clues about the Fed's interest rate move at the upcoming policy meeting later this month. The optimism about a slowdown in inflation triggered some buying in the market. Asian markets closed mostly higher on Monday.
The report is expected to show a continued slowdown in the annual rate of consumer price growth. However, the data is not likely to impact the expected 75 basis point interest rate hike by the Federal Reserve next week.
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