US Inflation Data Boosts Global Tech Stocks to Record High

Global technology stocks rallied after cooling US wholesale inflation data for July eased concerns about near-term Federal Reserve tightening. The S&P 500 closed at a record high, led by a 13.7% surge in memory chipmaker SanDisk.

The positive momentum spilled into Asian markets on August 14, lifting Japan's Nikkei 225 by 405.22 points to 68,713.81, and the broader TOPIX rose 21.16 points to 4,197.20.

Foreign investors actively bought semiconductor and electronic component shares, and a relatively weak yen supported the earnings outlook for Japanese exporters.

Market participants noted that if upcoming consumer price data continues to confirm disinflation, global risk assets could find additional support.