The KOSPI closed at 6,909.91 on the 11th, up 3.33% for the week, after reaching 7,051.64 on the 9th and briefly moving above 7,000 for the first time since July 23. Chip stocks initially led the rally on expectations that OpenAI's Astra artificial intelligence model would boost demand for high-capacity memory, but renewed military conflict between the United States and Iran sent oil prices and U.S. Treasury yields higher, pushing the index lower for a second straight session. Brent crude and West Texas Intermediate later fell 2.81% and 2.37%, respectively, as reports emerged of talks involving Iran and Gulf states over the Strait of Hormuz, helping U.S. stocks rebound and improving the outlook for Korean equities at the start of the week. Volatility is likely to remain elevated ahead of the Federal Open Market Committee meeting on the 15th and 16th. The August U.S. consumer price index rose 3.4% year over year, while core CPI increased 0.3% from the previous month, above expectations. CME FedWatch put the probability of a 0.25 percentage point rate increase above 80%. Retail and foreign investors were net sellers of 9.9104 trillion won and 2.1259 trillion won on Korea's main board last week, while institutions and other corporate entities were net buyers, partly reflecting buybacks by Samsung Electronics and SK hynix. Analysts said high oil prices and yields could limit gains, while AI investment, memory demand and earnings growth could provide support.