The tamer than expected U.S. inflation data in October raised hopes the US Fed will not hike interest rates soon to keep Asian stock markets in the green on Wednesday, following the broadly positive cues from the global markets overnight. With the U.S. inflation on a downward trajectory, further rate hikes may not be necessary. Asian markets closed mostly higher on Tuesday.
A cautious undertone is also prevailing due to concerns about a possible U.S. government shutdown should Congress fail to pass a spending plan by Friday.
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