Asian shares advance as investors await US growth data

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BEIJING (AP) — Asian stock markets have risen as inflation fears eased and investors looked ahead to U.S. data that are expected to show economic growth accelerating. Benchmarks in Shanghai, Tokyo and Hong Kong advanced on Wednesday. Overnight, Wall Street’s S&P 500 index slipped 0.2%, giving up some of the previous day’s 1% gain. Investors worry stronger inflation might prompt governments and central banks to withdraw economic stimulus. They have been reassured by comments from U.S. Federal Reserve officials that they see no need yet to change course. Data due out Thursday are expected to show the biggest global economy accelerated in the latest quarter after growing at an annual rate of 4.3% in 2020’s final quarter.

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