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

Asian stocks rallied with MSCI Asia Pacific gauge climbing 1.2%, led by South Korea Kospi jumping over 6% on a 10% gain in SK Hynix after its ADRs surged 27%. The rally was fuelled by softer-than-expected US CPI data, which traders interpreted as removing a near-term Fed rate hike from consideration. Brent crude rose 1.8% to above $86 a barrel amid Trump threatening further strikes on Iran, while gold held near $4,050 an ounce.