Overview

• KOSPI rose 40.09 points, or 1.18 percent, to 3,426.14 as of 11:20 a.m. in Seoul.
• Revived hopes for another Federal Reserve rate cut supported sentiment after U.S. consumer spending data met expectations.
• Tech and internet leaders led gains, with Naver up 7.99 percent, SK hynix up 3.05 percent, and Samsung Electronics up 1.68 percent.
• Financials and consumer names advanced, including Shinhan Financial Group up 2.17 percent, Hybe up 0.37 percent, and Samyang Foods up 0.61 percent.
• The won strengthened to 1,402.6 per U.S. dollar by late morning, up 9.2 won from the previous session.