Asia-Pacific stocks climb as Kospi jumps 3% and Nikkei gains 1.68% on easing Fed hike bets
AI Market Summary
US PPI cooled more than expected (4.7% YoY vs 5.5%), alongside softer jobs data, pushing market-implied odds of a September Fed hike below 40% and supporting a risk-on rebound. Wall Street closed higher and Asia followed, led by Korea's Kospi and Japan's Nikkei. A pullback in oil prices also eased inflation concerns, while lingering geopolitical risks and new US drone tariffs remain cross-currents.
Impact level
● Medium
Affected assets
NCSINIKKEI2252USD/USDT+0.14%
AI Insight · NCSINIKKEI2252USD/USDTAI Insight
▲ Bullish
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The US June PPI slowed to 4.7% year on year, below expectations, and together with earlier weaker jobs data pushed market pricing for a September Fed rate hike to below 40%. US stocks closed higher overnight on the shift in rate expectations. Asia-Pacific markets followed, with South Korea’s Kospi up as much as 3%, Japan’s Nikkei 225 up 1.68%, and the MSCI Asia Pacific Index up 0.4%.
