Korean stocks rebound as US rate concerns ease

Korean stocks demonstrated a strong rebound on Friday, returning to the 6,600 level and surpassing it as investor sentiment improved. The rally on Wall Street and a decline in U.S. Treasury yields played a significant role in boosting market sentiment. Foreign and institutional investors, who had been selling for five consecutive days, switched to net buyers, contributing to the index's gain.

The KOSPI exchange index began the trading day with a 1.14 percent increase, reaching 6,654.36, which was 74.88 points higher than the previous close. Throughout the session, the index remained in positive territory and concluded the trading day with a 1.64 percent increase, reaching 6,687.21.

U.S. stocks also showed an overall upward trend overnight as Treasury yields stabilized. The Dow Jones Industrial Average increased by 1.18 percent, while other major indexes also recorded gains. The rally was further supported by remarks from Federal Reserve Governor Christopher Waller, who suggested that he could endorse maintaining interest rates steady during the Federal Open Market Committee meeting if recent inflation data confirmed that price pressures were easing.