South Korea’s Kospi has staged a stunning comeback. How long will the bull market last?

South Korea's Kospi index has staged a significant comeback, entering bull-market territory. This turnaround is attributed to investors buying back into major semiconductor companies, such as Samsung Electronics and SK Hynix, which dominate the index, according to CNBC. The Kospi Index jumped 3.7 per cent, as reported by e27.

The broader Asian market also saw gains, with the MSCI Asia Pacific index rising 0.8 per cent. This optimism was fueled by a US inflation report that showed a 0.1 per cent monthly gain and a 3.4 per cent yearly advance, easing fears of an imminent Federal Reserve interest rate hike, as per e27. Money markets now price in less than a 50 per cent chance of a September rate hike.

In other news, South Korea's government has announced measures to stabilize the housing market, including raising financial support for construction projects to 47.8 trillion won ($33.72 billion) and easing regulations for young homebuyers, as reported by Investing.com. Meanwhile, the country's shipping industry saw a significant deal, with SK Shipping and H-Line Shipping swapping tankers and contracts to create one of the world's largest operators of liquefied natural gas carriers, according to Straits Times Business.

Brief written by urgent.news from CNBC, e27, Investing.com, Straits Times Business, The Business Times - Companies & Markets — 5 reports on this story. Machine-written — it may contain errors, so check the original before relying on it.