Asia-Pacific markets rose Wednesday, tracking gains on Wall Street, as hopes for a rate cut by the Federal Reserve rose, while investors also assessed August inflation data from China.

Consumer prices in China fell 0.4% year over year in August , according to data from the National Bureau of Statistics released Wednesday, missing expectations of a 0.2% drop by economists polled by Reuters.

Meanwhile, the producer price index fell 2.9% year over year, in line with expectations and improving from the 3.6% drop in July.

Shares of Asian tech firms part of Apple 's supply chain traded higher after it launched new iPhones, watches and AirPods on Tuesday. Taiwan-based iPhone maker Foxconn rose 1.2% and Samsung Electronics increased 1.4%. However, investors seeme

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