Asian stocks rise as US inflation cools

News Snapshot:

HONG KONG, May 11 (Reuters) - Asian shares rose on Thursday as investors cheered signs of easing inflationary pressure in the U.S. after data showed consumer prices in April rose at a slower-than-expected pace. The Labor Department's Consumer Price Index (CPI) rose 4.9% in April from a year ago, compared with expectations of a 5% increase, raising hopes that the Federal Reserve's interest rate hiking cycle is close to an end. Month-over-month CPI in April rose 0.4% after gaining 0.1% in March. "Should the data stay strong again in May there is every likelihood the FOMC will have to revise...