Asian markets rally, Kospi surges 4% as US PPI data looms

August 13, 2026 (MLN): Asian markets traded mostly higher on Thursday, with South Korean and Japanese equities leading regional gains, while Australian shares edged lower.

South Korea’s Kospi climbed 4%, while the small-cap Kosdaq gained 0.92%. Japan’s Nikkei 225 advanced 1.5%, and the Topix rose 0.99%. Australia’s S&P/ASX 200 slipped 0.12%, according to CNBC.

Investor focus remained on the US inflation outlook, with July’s Producer Price Index (PPI) due later Thursday. Economists surveyed by Dow Jones expect producer prices to increase 0.2% month-on-month.

The PPI release follows Wednesday’s US Consumer Price Index (CPI), which showed prices rising 0.1% month-on-month in July, in line with expectations. The softer inflation reading supported Wall Street, with the S&P 500 closing higher after two consecutive sessions of losses.

The latest inflation data also prompted traders to scale back expectations of a US interest rate hike in September. However, market participants continue to see October or December as more likely windows for a potential rate increase.

US markets also benefited from strong performances among several technology companies following earnings releases. CoreWeave and other tech stocks surged after reporting results, while investors assessed a broader batch of corporate earnings.

Cisco Systems fell nearly 4% after its results failed to impress investors, while Cerebras dropped 15% and Coherent declined around 3%.

Markets will receive another key US economic indicator on Friday with the release of July retail sales. Economists expect retail sales to rise just 0.1% month-on-month.

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