Asian Stocks Rally 2.3% as Kospi Jumps 8.2% on Cooler US Inflation
Updated
Updated · Bloomberg · Jul 15
Asian Stocks Rally 2.3% as Kospi Jumps 8.2% on Cooler US Inflation
3 articles · Updated · Bloomberg · Jul 15
Summary
MSCI’s Asia Pacific gauge climbed 2.3%—its biggest advance in a month—as traders cut Federal Reserve rate-hike bets after softer-than-expected US inflation data.
South Korea’s Kospi surged 8.2%, reclaiming the title of this year’s best-performing major stock benchmark as technology shares led the regional rally.
SK Hynix jumped 13% in Seoul after its American depositary receipts had surged 27%, extending momentum in AI-linked chip stocks after a rebound in US semiconductors.
Brent crude also rose, while equity-index futures pointed to further gains in Europe and the US, suggesting the Asia-led risk rally could broaden across global markets.