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 Korea Times reports that the KOSPI index rebounded to close above 7,000 for the first time in five sessions on Friday. The benchmark index opened 33.08 points, or 0.47 percent, lower at 6,938.27 but added 32.39 points, or 0.46 percent, to finish at 7,003.74. Early selling was attributed to profit-taking ahead of the National Foundation Day holiday and caution over U.S. Treasury yields.
However, buying interest later recovered, supported by an overnight rise in U.S. AI and semiconductor shares following Micron’s strong earnings. Analysts noted that the market paused after the previous day's rally with little fresh news from Wall Street, and a Federal Reserve official's reluctance to rush into further rate hikes offered relief to sentiment.
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- KOSPI rebounds to close above 7,000 for 1st time in 5 sessions koreatimes.co.kr
