"Asia Prepares for US Inflation Impact as Stocks Rise and Fall"

A surprise increase in US inflation has led to a surge in bond yields, a delay in expectations for the first Fed rate cut, a rise in the dollar, and a decline in global stock prices. The MSCI Asia ex-Japan index is down for the fourth consecutive day, with potential further decline. US Treasury yields jumped, and Japanese stocks are expected to react to the weakening yen and global equity selloff. India's wholesale price index and trade data, as well as Indonesia's presidential elections, are key developments to watch on Wednesday.