Asian Shares Rally on Wall Street Gains, Yen Weakness, and US Rate Cut Hopes

Asian shares generally increased, boosted by Wall Street gains driven by major tech companies. Japan`s Nikkei 225 surged, recovering from previous losses, aided by a weaker yen. While concerns arose over potential U.S. government intervention in Nippon Steel`s bid for U.S. Steel Corp., other Asian markets also showed positive trends. Wall Street saw the S&P 500 rise, fueled by tech giants like Nvidia amidst AI enthusiasm, despite a dip earlier in the day. This followed a U.S. inflation report that, while showing overall slowing inflation, indicated potential for future price increases. The report solidified expectations of a likely interest rate cut by the Federal Reserve, though concerns remain about its effectiveness given current consumer struggles.