Sydney — Asian shares were a touch below a recent three-month high on Thursday, with China a tad weaker as investors weighed inflation concerns ahead of key US economic data while oil prices rose to near one-and-a-half-year highs.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3% to 711 points. It went as high as 712.57 on Wednesday, a level not seen since early March...

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