BANGKOK (AP) — Shares charged higher Wednesday in Asia after the U.S. stock market rallied to records when data showed inflation across the United States improved slightly last month.

Tokyo’s benchmark Nikkei 225 added to its record set a day earlier. Shares in Hong Kong, Singapore, Thailand and Malaysia also gained more than 1%.

The recent rally in share prices has been driven partly by relief over an extended truce in President Donald Trump’s trade war with China, and partly by persisting hopes the Federal Reserve will cut interest rates. Those were reinforced by a moderation in the consumer price index in July.

“Asia woke up in full risk-on mode, riding the coattails of a U.S. session that looked like someone hit the ‘infinite bid’ button after CPI didn’t blow the inflation doors off

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