KOSPI Rebounds 3%, but Fed Rate Hike Fears Could Cap the Recovery
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The Korea Composite Stock Price Index (KOSPI) rose as much as 3.31% to 5,738.18 in Friday trading. The KOSPI rebound reclaims only less than half of Thursday’s 7.57% drop. September US producer prices rose by the most in 4.5 years, stoking speculation that the Federal Reserve will raise rates. That risk could cap a bounce that leaves the index roughly 37% below its June closing peak of 9,114.55. Is the KOSPI Rebound Just a Rotation Out of AI? Korea Exchange data shows non-AI heavyweights posting the steepest gains. Defense and aerospace maker Hanwha Aerospace rose 8.25% in morning trading. Samsung C&T, the Samsung group’s construction and trading arm, added 5.79%. In contrast, the chipmakers that powered Korea’s memory chip boom lagged. Samsung Electronics rose 2.14%, and SK Hynix gained 1.82%.
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