Asian shares trade mostly higher after Wall Street snaps its 3-day losing streak

Market Overview - Asian shares mostly increased following Wall Street's recovery from a three-day losing streak, reducing its weekly losses [1][2] - The Hang Seng in Hong Kong rose by 1.5% to 26,518.03, while the Shanghai Composite index gained 0.1% to 3,832.65 [3] - Australia's S & P/ASX 200 increased by 0.7% to 8,545.70, and South Korea's Kospi surged by 1.3% to 3,430.57 [3] U.S. Economic Indicators - U.S. inflation rose to 2.7% in August from 2.6% in July, aligning with economists' forecasts, although it remains above the Federal Reserve's 2% target [5][6] - Consumer sentiment in the U.S. was weaker than expected, with inflation expectations for the next 12 months decreasing slightly to 4.7% from 4.8% [7] Federal Reserve Actions - The Federal Reserve recently cut interest rates for the first time this year, but further cuts are uncertain due to potential inflation concerns [6] - The market is closely monitoring the Fed's actions as rising stock prices have led to criticism regarding their valuation [6] Tariffs and Market Reactions - President Trump's announcement of new tariffs on various imports, including pharmaceuticals and heavy trucks, has created uncertainty in the market [8][9] - Companies like Paccar, which produces trucks, saw a 5.2% increase in stock price, while major pharmaceutical firms like Eli Lilly and Pfizer also experienced slight gains [9] Oil Market Dynamics - U.S. benchmark crude oil prices fell by 49 cents to $65.23 per barrel, while Brent crude declined by 42 cents to $68.80 per barrel [10] - Concerns over potential oversupply have arisen due to reports that OPEC plus nations may increase production limits [10]