The MSCI Asia-Pacific ex-Japan index rose 0.97% on August 13, driven by cooling US inflation. South Korea’s KOSPI surged 4.4% and Japan’s Nikkei 225 gained 1.86%. The US Consumer Price Index increased 0.1% month-on-month in July, bringing the annual inflation rate to 3.4% from 3.5% in June. The probability of a Fed rate hike in September dropped to around 40% from 54% the previous week.
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