Asian stocks follow Wall St higher after rebound

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stocks are higher after Wall Street rebounded as investors waited for U.S. inflation data that might influence the pace of Federal Reserve interest rate hikes. Shanghai, Tokyo, Hong Kong and Sydney advanced. Wall Street’s benchmark S&P 500 rose 0.8%, recovering from the previous day’s slide. Investors are waiting for U.S. inflation data Thursday for signs of how quickly the Fed might pull back record-low interest rates and other stimulus to try to cool surging prices. Traders expect at least four rate hikes this year, starting next month. Oil prices rebounded from the previous day’s decline.