Hope rally turns choppy as hot U.S. inflation looms – Reuters

Hope rally turns choppy as hot U.S. inflation looms – Reuters

SYDNEY, Dec 9 (Reuters) - Stocks rose in choppy trade on Thursday as worries about the economic impact of the Omicron coronavirus variant ebbed but increasing caution ahead of U.S. inflation data capped other risk assets such as oil and the Australian dollar.

Bonds were nursing losses since a brighter virus outlook leaves a clearer path to higher rates. Traders' focus was turned to the release of inflation data on Friday and a Federal Reserve meeting next week for indications on hike timing.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.5% to a two-week high. Japan's Nikkei (.N225) was steady, having gained 3.5% in the previous two sessions.