Asian and European stocks rebound as Waller signals September Fed rate hold

  • South Korea’s KOSPI closed at 6,687.21, up 107.73 points or 1.64%.
  • Institutions net-bought 1.6691 trillion won while individuals sold 3.7224 trillion won.
  • CME FedWatch September rate-hold probability rose to 49.5% from 36.8%.

South Korea’s KOSPI closed at 6,687.21 on September 4, up 107.73 points or 1.64% for a second consecutive session after a 0.26% gain the prior day, as strong export figures and easing concerns over U.S. rate hikes supported risk appetite across Asian and European markets. Institutions, other corporations and foreigners were heavy net buyers on the KOSPI, while individuals sold a net 3.7224 trillion won; trade was light at 235.5 million shares worth 17.46 trillion won ($12.9 billion), the Korean won rose against the dollar, and the KOSDAQ finished at 813.5, up 2.95%. Federal Reserve Governor Christopher Waller said he would support holding the policy rate in the 3.5%–3.75% range if incoming data confirm easing inflation, and CME FedWatch odds of a September hold rose to 49.5% from 36.8%. The U.S. 10-year Treasury yield eased to 4.762%, though elevated oil prices and U.S.-Iran tensions, including remarks by Vice President J.D. Vance, continued to weigh on sentiment, with October WTI crude above $91 a barrel. Technology shares such as Samsung Electronics and SK hynix led, oil refiners including S-Oil rose, and rate-sensitive financials such as KB Financial declined, while India’s Sensex and European futures also firmed earlier in the global session.

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