ocaml, 191 bytes

Result

AC

Duration

779ms

Code [DL]

open String
let p=print_endline
let l=ref 0
let rec r()=let s=read_line()in
if!l=0 then p(l:=index s 'T';s)else p(let i=try index s 'K' with _-> !l in make i ' '^make(!l-i+1)'*');r()let()=r()

stdin

                                               T  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                  K                               

stdout

                                               T  
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                                               *
                  ******************************

stderr

Exception: End_of_file.

strace