(Bloomberg) — Stocks in Asia advanced for a second day, following US shares higher, while the Australian dollar advanced on hotter-than-expected inflation.
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Japanese, South Korean and Taiwanese equity gauges rose, while Mainland Chinese and Australian indexes fell. US futures steadied in Asian trading after Nvidia Corp. shares rebounded on Tuesday, helping boost the S&P 500.
US consumer confidence eased on a more muted outlook for business conditions, the job market and incomes. Fed Governor Michelle Bowman said she sees a number of upside risks to the inflation outlook. Her colleague Lisa Cook said it will be appropriate to reduce rates “at some point,” adding that she expects inflation to improve gradually this year. The dollar nudged higher Wednesday.
Australia’s dollar rose after the country recorded faster-than-expected inflation in May, suggesting price pressures remain stubbornly strong and…
