24.11.202502:32:15UTC+00South Korean Shares Rise Amid Fed Signals

On Monday, the benchmark KOSPI index rose by 1.2%, reaching approximately 3,900, as it bounced back from the previous session's losses. This upward movement was fueled by expectations of an imminent interest rate cut by the U.S. Federal Reserve. Investors responded positively to hints from a high-ranking Federal Reserve official that suggested monetary easing might still occur within the year, creating a more favorable atmosphere for export-centric markets such as South Korea. Additionally, increased buying interest was observed domestically, as investors took advantage of last week's significant market dip, sparked by worries of an overheated rally in the AI sector. Furthermore, the market continued to gain from enduring progress in the semiconductor and AI sectors, with major companies providing stability to the market sentiment. Notably, Samsung Electronics rose by 3.9%, Samsung Biologics surged by 44.7%, KB Financial Group increased by 1.8%, Naver climbed 1.5%, and Kia Corporation saw a growth of 0.5%.