US Inflation Eases, Kospi Surges Nearly 5% as Risk Appetite Rebounds

The US inflation data for July came in at 0.2% month-over-month, matching economist expectations and easing fears of near-term Federal Reserve tightening.

This led to a surge in global stocks and bonds, with South Korea's Kospi rising more than 4.8% intraday and pushing its value roughly 22% higher from its July low, re-entering technical bull market territory.

Samsung Electronics and SK Hynix jumped over 5%, driving the rebound, as investors return to a familiar playbook: long South Korea, short Hong Kong.