South Korean Stocks Hit Record High as Kospi Leads Mixed Asia Session
South Korea’s Kospi touched a record 8,131.15 and later closed at 8,047.51, while broader Asian markets were mixed as traders watched oil, Federal Reserve rate expectations, currencies, and geopolitical developments.
South Korean equities led Asian markets after trading resumed following a public holiday, with the Kospi Index rising to a record 8,131.15 before closing up 2.55% at 8,047.51, a gain of 199.80 points. The older report cited by Gate said the index had risen above 8,100 and was up 3.24% during the day, reflecting the stronger intraday move before the close. The Kosdaq also ended higher, gaining 0.98%. Elsewhere in Asia, trading was mixed: Japan’s Nikkei 225 fell 0.25% to 64,996.09 and the Topix edged lower, while Australia’s S&P/ASX 200 declined, Hong Kong’s Hang Seng rose, China’s Shanghai Composite slipped and CSI 300 gained, and India’s Nifty 50 was nearly flat. Markets also tracked comments from Donald Trump on Iran talks, uneven moves in Brent and West Texas Intermediate crude, and CME Group FedWatch data showing traders assigned an 8.5% probability of a July Federal Reserve rate hike.
- Kospi: The Korea Composite Stock Price Index, South Korea’s main stock market benchmark that tracks listed equities.
- Federal Reserve: The U.S. central bank, which sets monetary policy and influences interest rates, liquidity, and global market sentiment.
- FedWatch: A CME Group tool that tracks market-implied probabilities for future Federal Reserve interest-rate decisions based on futures pricing.