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Kospi Extends Record Run on Tech Gains, Fed Cut Bets

President Lee’s softening on a capital‑gains change eased policy risk for overseas buyers.

Overview

  • South Korea’s benchmark closed at a record 3,344.20 on Sept. 11, capping an eight-session winning streak to new all-time highs.
  • The rally carried into Sept. 12 as the index broke higher intraday, with late‑morning levels near 3,381 and chipmakers leading the advance.
  • Fresh U.S. inflation readings strengthened expectations for a Federal Reserve rate cut next week, lifting risk appetite for Korean equities.
  • Foreign and institutional investors were net buyers while retail investors sold about 1.1 trillion won, following the president’s signal against pressing a lower capital‑gains threshold.
  • Key movers included Samsung Electronics and SK hynix, with bond yields edging lower and the won hovering near 1,389 per dollar.