KOSPI Recovers 7,000 Mark on Easing Inflation and Oil Prices

South Korea's KOSPI index broke the 7,000-point mark on Thursday, marking a significant recovery after three weeks. The surge was led by major technology stocks, including Samsung Electronics and SK Hynix, which have been on an upward trend for five consecutive trading days.

Investor confidence appears to be strengthening, buoyed by easing macroeconomic risks. Recent US inflation data, both consumer and producer price indices, indicated a slowdown in price increases, alleviating concerns about further interest rate hikes. Additionally, international oil prices declined, partly due to rising crude inventories, which further supported market sentiment.

The positive market performance was reflected in the currency exchange rate, with the dollar-weakening against the won. The KOSPI saw broad gains, with only Samsung Biologics trading lower among the top 10 companies by market capitalization. SK Hynix and Samsung Electronics experienced notable price recoveries.

The KOSDAQ index also continued its upward trajectory for the fifth straight day. Foreign investors were net buyers across both markets, while domestic individual and institutional investors were net sellers. This suggests a growing international interest in the South Korean stock market.