{
  "id": 732237,
  "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",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-13T03:15:21.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "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 Korean stock market, the Kospi, experienced a significant surge of nearly 5% at the beginning of trading, driven by a resurgence in the AI trade and a slowdown in US inflation, according to a report released by the US Consumer Price Index (CPI) for July. This surge contributed to the market reaching multiple record highs in 2022.\n\nThe report's data showed a softer jobs market, which provided investors with more confidence to return to tech firms following a recent summer decline. The Federal Reserve, now with more breathing room, may maintain current borrowing costs for the time being.\n\nHowever, the persistent inflation above the 2% target set by the bank and the Iran war leading to elevated oil prices indicate that monetary policymakers are likely to adjust rates at some point. Neil Wilson from Saxo Markets noted that the US CPI report was mild enough to give the Federal Reserve more time to evaluate the situation.\n\nThe positive performance was not limited to South Korea; major markets in Tokyo, Hong Kong, Shanghai, and Taipei also increased in value. This optimism was further supported by strong earnings reports from leading companies such as Amazon, Microsoft, and CoreWeave, alongside bargain-hunting and government measures aimed at stabilizing retail investor volatility.\n\nMeanwhile, oil prices dropped more than 1%, contrasting a six-day streak of gains. Despite concerns over geopolitical tensions between the US and Iran, the Strait of Hormuz remained blocked. In terms of currency, the Euro against the dollar saw an increase, while the US dollar weakened against the pound and yen. Lastly, stock futures in New York closed at a flat level, and the London FTSE 100 saw a slight decrease.",
  "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",
        "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."
}