NEWS :Asian markets cheer drop in Chinese inflation

Asian stock indices were trading mostly higher on Thursday amid mounting hopes of policy intervention by the world's leading central banks in order to revive economic growth and ward off the threat emanating from the long-running European credit crisis.

The MSCI Asia Pacific Index gained 0.7% to 120.94 as of 12:31 p.m. in Tokyo, with about three stocks rising for each that slid on the index. The Asian benchmark had risen 2.6% in the previous three trading sessions.

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