Softer

• Global stock markets rallied, with the Nasdaq rising 0.90%, the KOSPI jumping 7%, and the FTSE 100 gaining 0.30% following cooler U.S. inflation data. • The rally was driven by reduced fears of Federal Reserve rate hikes and expectations for further economic support due to soft domestic demand. • Regional gains included India's Nifty 50 (+0.57% to 24,188.50) and the BSE Sensex (+0.68% to 77,577.94), though Taiwan's benchmark fell 1.42% to 44,737.95.

• Wall Street indices rose as investors reacted positively to softer inflation data and strong bank earnings, helping the Nasdaq recover from a previous 1.6% decline. • The Philadelphia Semiconductor Index (SOX) surged 3.1%, signaling a stabilization in chip stocks, though IBM experienced a significant plunge. • Geopolitical instability persists as the U.S. and Iran exchanged attacks in the Gulf, driving oil futures to their highest levels in four weeks.

War’s impact on UK cost of living more muted than first forecast suggesting fuel price rises have failed to spill out more widely across UK plcUK inflation stays at 2.8% as slowing food prices offset transport costsBusiness live – latest updatesAs soon as Iran choked off oil supplies through the strait of Hormuz at the start of March, there were dire warnings about rocketing UK inflation and the drastic action the Bank of England might take to rein it in.At one point, investors were expecting as many as three quarter-point rises in interest rates before the end of the year – a sharp turnaround from earlier forecasts of rate cuts. Continue reading...