South Korea’s benchmark KOSPI advanced nearly 3% to around 6,530 on Wednesday, posting gains for a third consecutive session on the back of strength in major technology shares. Samsung Electronics climbed more than 4%, while SK hynix added over 2%, as optimism about robust AI-related demand and expectations of higher shareholder returns buoyed market sentiment.
Other notable gainers included SK Square (9.1%), Hyundai Motor (1.4%), LG Energy Solution (3.4%), Hanwha Aerospace (3.0%), KB Financial Group (1.0%), Kia Corporation (1.6%), and Doosan Enerbility (3.0%).
Investors also turned their focus to the upcoming US July inflation report, with any downside surprise seen as potentially easing worries over a possible Federal Reserve rate hike in September. At the same time, renewed tensions in the Middle East continued to pose a risk to risk appetite, after hopes for a potential US–Iran peace deal faded. The ongoing closure of the Strait of Hormuz pushed US crude prices above $83 a barrel, keeping inflationary pressures firmly in view.
