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The Economic Times
The Economic Times

Global Market Today: Asian stocks rise after soft US CPI, Kospi rallies

United States Asia US Federal Reserve Inflation Kevin Warsh Oil Artificial Intelligence

Asian shares rose as cooler-than-expected US inflation data reduced expectations of Federal Reserve interest-rate hikes and the artificial intelligence trade gathered fresh momentum. Oil rose.

MSCI’s Asia Pacific equities gauge climbed 1.2%, with more than three stocks advancing for every decliner. South Korea’s Kospi jumped more than 6%, led by a 10% gain in SK Hynix Inc. after its American depositary receipts surged 27%. Shares also rose in Japan and Australia, putting the regional benchmark on track for a second day of gains.

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