Asian stocks climbed after a surprise slowdown in US inflation, easing expectations for future rate hikesprosper. South Korea’s chip‑heavy KOSPI surged 6% while Japan’s Nikkei gained 0.4%, and MSCI’s Asia‑Pacific index outside Japan rose 1.7%.

Oil steadied as the U.S. scrapped a plan to levy a 20% fee on shipping through the Strait of Hormuz, while Brent futures hovered around $85.50 a barrel. Wall Street bank earnings sparked enthusiasm, yet IBM’s shares fell 25% after a revenue forecast miss, highlighting the market’s skittishness toward AI‑related stocks.

The dollar slipped against the weak yen; short‑end Treasury yields fell 11 basis points to 4.19%, from a 17‑month high of nearly 4.3%. The CPI fell 0.4% in JunePile core inflation hit 2.6%, below the 2.8% forecast, prompting J.P. Morgan to note that fears of a July rate hike may be removed.

The euro steadied above $1.14, the Australian dollar gained 0.8%, and U.S. futures코 remained slightly higher. Chinese GDP, industrial production and retail sales data will dominate Asian trade ahead of earnings for ASML and other U.S. firms.