KOSPI rebounds to close above 7,000 for 1st time in 5 sessions
KOSPI regained the 7,000 level on Friday, ending above the threshold for the first time in five trading sessions as a late rebound erased earlier losses. The benchmark index added 32.39 points, or 0.46 percent, to finish at 7,003.74. After opening 33.08 points, or 0.47 percent, lower at 6,938.27, it extended its decline to as much as 0.62 percent. The index then swung between gains and losses…
The KOSPI index rebounded on Friday, closing above the 7,000 mark for the first time in five trading sessions. The benchmark index added 32.39 points, or 0.46 percent, to finish at 7,003.74. Following an opening decline of 33.08 points, or 0.47 percent, the index fluctuated between gains and losses before climbing towards the close.
Early selling was attributed to profit-taking ahead of the National Foundation Day holiday and caution surrounding U.S. Treasury yields. However, buying interest later recovered, receiving support from an overnight increase in U.S. AI and semiconductor shares following Micron's robust earnings.
Kang Jin-hyuk, an analyst from Shinhan Securities, noted that the market paused after the previous day's rally, with limited new information from Wall Street to influence the trading session. The retreat in U.S. Treasury yields, following an intraday rise, helped stabilize sentiment. Additionally, a Federal Reserve official's reluctance to rush into further rate hikes provided some relief for investors.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- KOSPI rebounds to close above 7,000 for 1st time in 5 sessions koreatimes.co.kr
