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GLOBAL MARKETS-Asia shares hit 2007 top, dollar skids on Fed inflation tweak

* Asia shares ex-Japan at highest since Dec 2007

* Wall St notches more records, aided by upbeat earnings

* Dollar sinks to multi-year lows vs range of peers

* Commodities rise as US$ falls, oil near 2-month top

SYDNEY, July 27 (Reuters) - Stocks, bonds and commodities were all on a roll in Asia on Thursday, as bulls scented a softening in the Federal Reserve's confidence on inflation that promised to keep U.S. interest rates low for longer than some had expected.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.9 percent to heights not seen since December 2007. It has gained over 5 percent so far this month.

South Korea and Japan's Nikkei both added 0.2 percent, while Australia put on 0.3 percent. Stocks in the Philippines were at a one-year peak and Hong Kong's Hang Seng index added 0.3 percent to push above 27,000.

But worries about tighter regulations nudged China's blue-chip CSI300 index down 0.7 percent, though data showed a pick up in profit growth for industrial firms.

The latest rush for risk came after the Fed left U.S. rates unmoved as expected on Thursday, and tweaked its wording on inflation.

The market seized on the fact that...


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