Asian Equities Higher with Eyes on Australian CPI

Asian stock markets opened higher for a second session on Wednesday thanks to a positive lead from Wall Street overnight.

U.S. stocks rose on Tuesday lifting the S&P 500 to a record, following some steady economic data and corporate earnings. Existing home sales hit an eight-month high in June while the consumer price index rose 0.3 percent in the month after a 0.4 percent rise in May.

Investors are keeping an eye on the ongoing military conflict in the Gaza strip after the U.S. temporarily halted flights to Tel Aviv, following a rocket attack near the airport. There were no new developments on ceasefire talks being held in Egypt with Israel’s justice minister saying that she saw no progress at all.

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