FX.co ★ South Korean Shares Rise on Tech Gains

The benchmark KOSPI rose 0.5% to around 6,290 on Monday, rebounding from the previous session as technology shares followed Wall Street’s record-breaking rally. On Friday, the S&P 500 set a new all-time high and the Nasdaq advanced after a weaker-than-expected US employment report for July showed an unexpected contraction in jobs, tempering expectations of a Federal Reserve rate hike in September. The more dovish rate outlook boosted demand for technology stocks, with Samsung Electronics and SK hynix each climbing about 1%. Other notable gainers included Hyundai Motor (+2.8%), Hanwha Aerospace (+4.4%), HD Hyundai Heavy Industries (+2.0%), and Doosan Enerbility (+2.1%). However, uncertainty surrounding a potential US–Iran agreement to reopen the Strait of Hormuz continued after Tehran denied holding direct talks with Washington, capping the KOSPI’s recovery. At the same time, WTI crude prices climbed above $79 per barrel, stoking concerns about higher energy costs and renewed inflationary pressure.