Asia shares track Wall Street rally with inflation data, Fed in focus

Asian shares opened higher on Tuesday, boosted by gains in US equity markets and expectations of a Federal Reserve interest rate pause following a Fed policy meeting this week. The central bank’s approach towards inflation, as indicated by the Consumer and Producer Price Index data due out over the next two days, will be closely watched by investors. Japan’s Nikkei surged 1.59%, while broadest bourse gauge MSCI Asia-Pacific index was up 0.3% in early trading. China’s Central Bank cut its seven-day reverse repo rate by 10 bps from 2.00% to 1.90% to bolster the country’s economy.