The MSCI Asia ex-Japan stock index is eyeing a sixth consecutive rise, which would mark its best run since January last year. Barring a slide of almost 3%, the index will close the week in positive territory for a fourth week.

Asian equities rallied Thursday after US data showed inflation cooled last month, fuelling speculation that the Federal Reserve will cut interest rates twice this year.

Investing.com-- Most Asian currencies rose on Thursday after some softer U.S. consumer inflation readings pulled the dollar to a one-month low and saw traders increase bets on a September interest rate cut.

Asian stock markets rallied on Thursday, buoyed by Wall Street's surge to all-time peaks overnight after a milder U.S. inflation report raised expectations the Federal Reserve will deliver two interest rate cuts this year.