GLOBAL MARKETS-Asian stocks firm after benign U.S. inflation

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By Rafael Nam

HONG KONG, May 15 (Reuters) - Asian shares rose on Thursday, with some indexes at multi-month highs, after benign U.S. inflation data that might give the Federal Reserve room to keep U.S. interest rates low to deal with the downturn in the economy.

Expectations that technology earnings would prove resilient also comforted investors. Japan's Sony Corp (6758.T: Quote, Profile, Research, Stock Buzz) surged 8.7 percent, a day after it issued a surprisingly upbeat operating profit forecast despite the challenges posed by a slowing U.S. economy and a stronger yen.

But European shares were expected to open lower on caution ahead of a heavy session for earnings.

The dollar slipped slightly but was still not far from a two-month high against the yen.

Oil prices steadied below recent record levels, with the halt in the advance easing some of the inflation fears that have hit Asian stocks this month.

"There is certainly positive momentum in the market," said Lucinda Chan, division director at Macquarie Equities in Sydney.

"I think that despite all the uncertainty, these are often very good times for investments and people are beginning to sense that mood now," she said.  Continued...