Asian Stocks Rally on Soft US Inflation, Lower Oil Prices

Most Asian stocks rose on Friday after another soft US inflation reading solidified expectations that the Federal Reserve will hold off hiking interest rates.

The advances tracked a healthy lead from Wall Street, where the S&P 500 ended at a record and the Nasdaq saw its highest close since June.

Data showed the producer price index slowed sharply in July and came in below forecasts, compounding bets on the Fed standing pat at its meeting next month.

Investors are now pricing in a less than 40 percent chance of a September rate hike, compared with 50 percent last week.