KOSPI Eyes Direction Amid External Variables
South Korean stocks will be influenced by various external factors this week as they return from the Chuseok holiday. The KOSPI index ended at 7,080.92 on September 23, up 0.90 percent from the previous session.
The US-China summit during the holiday saw the two countries reaffirm their commitment to stabilizing relations and cooperating. However, markets view this meeting as a postponement of uncertainty rather than a resolution to trade frictions.
Oil prices have turned positive for South Korean stocks after falling 2.3 percent on September 25. The US is exploring phased negotiations with Iran to end the war, which has pushed oil prices down.
The upcoming US inflation data and Micron earnings will be key indicators of market direction. If inflation stays within expectations or slows, worries about additional rate hikes by the Federal Reserve could ease, supporting stability in Treasury yields and the dollar.