KOSPI rises 0.5% as tech gains track Wall Street rally

South Korea's benchmark KOSPI edged up 0.5% to around 6,290 on Monday, rebounding from the previous session as technology shares followed Wall Street higher. The move came after the S&P 500 reached a fresh record and the Nasdaq advanced on Friday, when a weaker-than-expected U.S. jobs report showed an unexpected contraction in July employment and eased expectations of a September Federal Reserve rate hike. Lower rate expectations tend to support growth and technology stocks, helping lift Samsung Electronics and SK hynix by around 1% each. Other gainers included Hyundai Motor, up 2.8%, Hanwha Aerospace, up 4.4%, HD Hyundai Heavy Industries, up 2.0%, and Doosan Enerbility, up 2.1%. Broader upside remained restrained as uncertainty persisted over a U.S.-Iran deal to reopen the Strait of Hormuz (key oil shipping chokepoint) after Iran denied direct talks with Washington. WTI crude (U.S. oil benchmark) also rose above $79 a barrel, adding to concerns about higher energy costs and inflation.

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