{
  "id": 727453,
  "title": "Seoul tech leads Asian stock gains as traders cheer US inflation",
  "url": "https://urgent.news/2026/08/13/seoul-tech-leads-asian-stock-gains-as-traders-cheer-us-inflation",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-13T03:15:21.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/08/13/seoul-tech-leads-asian-stock-gains-as-traders-cheer-us-inflation"
  },
  "original_language": "en",
  "account": "South Korea's Kospi soared nearly 5% at the start of trading on Thursday, buoyed by a resurgence in the AI trade that has propelled the market to record highs this year. Investors in Asia continued to pour money into tech companies following a summer slump, with optimism lifted by easing concerns over US interest rate hikes. The US Consumer Price Index (CPI) report for July, which was in line with expectations, accompanied by softer job market data, provided the Federal Reserve with room to maintain interest rates for now. However, with inflation still above the 2% target for over five years, policymakers are anticipated to tighten monetary policy eventually. Neil Wilson at Saxo Markets noted that the US CPI report had softened enough to give the Fed more time to wait before potentially raising rates. The market's reaction to the inflation data was driven by questions about whether Federal Reserve Chair Kevin Warsh would follow through on his pledge to combat inflation. Despite a flat Dow Jones Industrial Average and a slightly lower FTSE 100, other Asian markets, including Tokyo, Shanghai, and Wellington, were higher on the day. The bounce in global stocks was fueled by bargain hunting, government efforts to stabilize retail investor volatility, and strong earnings reports from major companies such as Amazon, Microsoft, and CoreWeave. Meanwhile, oil prices dropped over 1%, marking a shift after six consecutive days of gains, amid ongoing tensions in the US-Iran conflict and the ongoing closure of the Strait of Hormuz.",
  "summary": "July marked the 65th straight month of above-target inflation, but the US CPI report reduced expectations of a Fed rate hike in September.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Seoul tech leads Asian stock gains as traders cheer US inflation",
        "url": "https://urgent.news/2026/08/13/seoul-tech-leads-asian-stock-gains-as-traders-cheer-us-inflation-732237",
        "published": "2026-08-13T03:15:21.000Z"
      },
      {
        "outlet": "Hindu BusinessLine",
        "title": "HPCL buys 4 million barrels of West Asian crude, traders say",
        "url": "https://urgent.news/2026/08/13/hpcl-buys-4-million-barrels-of-west-asian-crude-traders-say",
        "published": "2026-08-13T05:53:58.000Z"
      },
      {
        "outlet": "Seeking Alpha News",
        "title": "Asian stock markets diverge following Wall Street rally; KOSPI outperforms",
        "url": "https://urgent.news/2026/08/13/asian-stock-markets-diverge-following-wall-street-rally-kospi",
        "published": "2026-08-13T06:40:55.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}