Stocks gain on drop in US inflation rate; ASML tops forecasts

By Tom Westbrook SINGAPORE, July 15 (Reuters) – Stocks rose and bonds steadied on Wednesday after a surprise slowdown in U.S. inflation scaled back expectations for interest rate hikes, while oil took a breather as the U.S. scrapped a plan to levy shipping through the Strait of Hormuz. South Korea’s volatile KOSPI index surged 6% and Japan’s Nikkei rose 1%, but volume was light and the mood nervous as AI stocks’ momentum has started to stutter.