FX.co ★ KOSPI Gains Momentum on Solid Economic Performance

On Tuesday, the benchmark KOSPI index increased by 1.8%, reaching approximately 3,120, its highest point in nearly four years. This rise comes as investors evaluate a series of encouraging economic indicators, despite ongoing concerns about U.S. interest rate policy. Expectations for possible interest rate cuts later this year have grown, but uncertainty about the timing and magnitude of these changes continues to keep markets wary. Domestically, South Korea's trade surplus expanded to USD 9.08 billion in June, the largest in a year, fueled by exports exceeding imports. Positive sentiment was further bolstered as the manufacturing sector showed signs of recovery, with the PMI climbing to 48.7 in June from 47.7 in the previous month. Among the major players in the index, technology and automotive sectors were at the forefront, with companies like Samsung Electronics rising by 1.8%, Hyundai Motor by 2.2%, and Kia Corporation by 2.2%.