FX.co ★ South Korean Shares Edge Higher on Global Optimism

The KOSPI index experienced a slight increase of 0.1%, settling at approximately 4,153 points on Thursday. This movement occurred within a limited range, influenced by a more favorable global risk sentiment and growing enthusiasm for foreign investments in Korean stocks. The overall market sentiment was buoyed by the Dow Jones reaching a record high, alongside the US Congress successfully passing legislation to resume government operations, thereby alleviating concerns over potential fiscal disruptions. Comments from a New York Stock Exchange representative highlighting enduring foreign interest in Korean companies further bolstered positive market expectations. In terms of key performers, Samsung Electronics experienced a modest increase of 0.2%, Doosan Enerbility gained 1.5%, and HD Hyundai Heavy Industries advanced by 0.9%. Conversely, SK Hynix fell by 0.5%, LG Energy Solution decreased by 0.3%, and Hyundai Motor declined by 0.4%. Concurrently, the Governor of the Bank of Korea, Rhee Chang-yong, adopted a cautious stance on potential policy easing, indicating that any future interest rate reductions would be contingent upon forthcoming economic data. Additionally, trading opened an hour later than usual in South Korean markets due to nationwide college entrance exams.