Asian markets rise with Wall St as traders eye latest US data
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Asian equities rally as investors await US economic data to gauge inflation outlook. Federal Reserve officials' plans for interest rates after lowering their guidance for cuts this year are being closely watched. Traders are also monitoring developments in France, with concerns that a snap legislative election could cause political turmoil in the European Union. The S&P 500 and Nasdaq closed at record highs due to continued buying of tech stocks. Tokyo and Taipei markets are up over 1%, with gains also seen in Hong Kong, Shanghai, Sydney, Singapore, Seoul, and Wellington. US retail sales, business inventories, and industrial production data will provide the latest snapshot of the economy. Philadelphia Fed president Patrick Harker sees one rate cut this year, while Minneapolis Fed chief Neel Kashkari says officials need not rush to loosen policy. Asian markets are generally upbeat and well placed for more gains due to expected interest rate cuts and strong earnings.

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