Driven by Fed Rate Cut Expectations, South Korean Stock Market Posts Largest Gain in Nearly a Month
According to Jinse Finance, the South Korean stock market recorded its largest single-day gain in nearly a month on Tuesday, as hopes for a U.S. interest rate cut boosted risk appetite across global financial markets. The benchmark KOSPI index closed up 50.25 points, or 1.60%, at 3,198.00 points, marking the largest percentage increase since July 8. Out of a total of 934 traded stocks, 687 advanced while 190 declined. Net foreign capital inflow reached 291.9 billion won (approximately $210.31 million). Analysts at Samsung Securities noted that the probability of a Federal Reserve rate cut in September is close to 100%, which has driven the market higher. (Jin10)
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