GLOBAL MARKETS-Asia Shares Rise; Kiwi Slumps after RBNZ's Less Hawkish Tone

GLOBAL MARKET - SINGAPORE. Asian stocks hovered near two-year highs on Wednesday on growing bets of imminent U.S. rate cuts, while the New Zealand dollar slid after its central bank signalled greater confidence that inflation was coming to heel.

The Reserve Bank of New Zealand (RBNZ) held its cash rate steady at 5.5% on Wednesday as expected, but noted that inflation was expected to return to its target range of 1% to 3% in the second half of the year.