# ASX 200 rallies as chances of an August rate hike drop, AI stocks tumble in Asia — as it happened - ABC News

> Australian shares rose as softer-than-expected June inflation reduced bets on an August RBA rate hike. Oil rose sharply, with Brent up about 4% to $87.45 and WTI up 3.9% to $82.31. The Kospi fell 6.7% amid an AI-stock selloff across Asia.

- Date: 2026-07-28 · published 2026-07-28T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/18601-asx-200-rallies-as-chances-of-an-august-rate-hike-drop-ai-stocks-tumble-in-asia
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The oil rally lifts energy costs and biofuel-linked demand, a supportive signal for vegetable oils and freight. Equity moves have little direct bearing on feed prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-05-23 | [ASX falls on stalled US debt ceiling talks, CBA lifts mortgage rates again, NZ's Reserve Bank raises rates for 12th time — as it happened - ABC News](https://feedsoft.ai/events/36209-asx-falls-on-stalled-us-debt-ceiling-talks-cba-lifts-mortgage-rates-again-nz-s.md) | -3.2% | -0.0% |
| BRENT | 2022-05-04 | [Stocks rally after Fed hikes rates, crude jumps](https://feedsoft.ai/events/41309-stocks-rally-after-fed-hikes-rates-crude-jumps.md) | -2.3% | +18.3% |
| BRENT | 2019-07-31 | [Stocks sink after Fed dents hopes for multiple interest-rate cuts - Los Angeles Times](https://feedsoft.ai/events/58018-stocks-sink-after-fed-dents-hopes-for-multiple-interest-rate-cuts-los-angeles.md) | -7.6% | -7.3% |
| BRENT | 2019-06-04 | [Oil bounces off four-month low, turns positive as stocks rally](https://feedsoft.ai/events/11311-oil-bounces-off-four-month-low-turns-positive-as-stocks-rally.md) | +1.7% | +4.6% |
| BRENT | 2026-07-23 | [Traders stick with ECB rate-hike bets as oil touches $100 once more - AOL](https://feedsoft.ai/events/18558-traders-stick-with-ecb-rate-hike-bets-as-oil-touches-100-once-more-aol.md) | -2.9% | -2.2% |
| WTI | 2025-08-22 | [US stocks jump as Powell hints at possible September rate cut — TradingView News](https://feedsoft.ai/events/23252-us-stocks-jump-as-powell-hints-at-possible-september-rate-cut-tradingview-news.md) | +1.0% | -2.0% |
| WTI | 2022-05-04 | [Stocks rally after Fed hikes rates, crude jumps](https://feedsoft.ai/events/41309-stocks-rally-after-fed-hikes-rates-crude-jumps.md) | -2.7% | +12.5% |
| WTI | 2019-02-21 | [Rupiah falls 27 points apparently on fed rate hike - ANTARA News](https://feedsoft.ai/events/60896-rupiah-falls-27-points-apparently-on-fed-rate-hike-antara-news.md) | +0.0% | +5.5% |

## Sources

- abc.net.au: https://www.abc.net.au/news/2026-07-29/cpi-inflation-interest-rates-asx-market-live-updates/106969852

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.