Asian shares mostly higher after US inflation data ease rate hike worries

Shares were mostly higher in Asia on Thursday after a highly anticipated report showed inflation accelerated across the U.S. in August, but not by much more than expected.

U.S. futures rose and oil prices also were higher.

The subdued increase in U.S. prices eased worries over the likelihood of another interest rate hike by the Federal Reserve, leading Tokyo’s Nikkei 225 to surge 1.4% to 33,168.10. In Seoul, the Kospi jumped 1.1%, to 2,561.45.

Hong Kong’s Hang Seng index slipped 0.1% to…