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Global share markets hit a record and the dollar was subdued on Wednesday, as investors cheered mild inflation data and signs of resilience in major economies, and expectations of a U.S. rate buoyed demand for riskier assets.

The MSCI All Country World Index of shares climbed for a second day and reached 950.13, an all-time high. Japan’s Nikkei stock index, meanwhile, set a fresh peak for a second-straight session.

European stocks advanced 0.5 per cent, with German shares adding 0.6 per cent. Tech and defense stocks led the gains.

U.S. inflation readings, which on Tuesday showed the consumer price index (CPI) rising slightly less than forecast in the year through July, indicated P

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