Asian Stocks Rise as Soft US CPI Lifts MSCI Asia Pacific 1.2%, Kospi Jumps 6%
Updated
Updated · Bloomberg · Jul 15
Asian Stocks Rise as Soft US CPI Lifts MSCI Asia Pacific 1.2%, Kospi Jumps 6%
3 articles · Updated · Bloomberg · Jul 15
Summary
MSCI’s Asia Pacific equities gauge climbed 1.2% after cooler-than-expected US inflation data eased expectations for further Federal Reserve rate hikes.
South Korea’s Kospi surged more than 6%, with SK Hynix jumping about 10% after its US ADRs had soared 27%, extending renewed momentum in AI-linked chip stocks.
Japan and Australia also advanced, leaving the regional benchmark on track for a second straight day of gains as more than three stocks rose for every decliner.
Oil also moved higher, while the market’s rebound built on a broader semiconductor recovery that had already lifted Asian tech shares after a sharp earlier selloff.