Stock market today: Asian shares boosted by Wall Street rise on consumer confidence and jobs

Asian shares are trading higher, boosted by a Wall Street rally that came on positive reports on consumer confidence and job openings. Benchmarks rose in afternoon trading in Tokyo, Seoul, Hong Kong and Shanghai. Australia’s S&P/ASX 200 jumped after the Australian Bureau of Statistics reported the monthly Consumer Price Index indicator rose 4.9% in the 12 months to July. That was lower than the expected 5.2%. On Wall Street, the S&P 500 rose 1.5%, while the Dow rose 0.8%. A strong job market has been credited as a bulwark against a recession, but it has made the Fed’s mission to tame inflation more difficult.