KOSPI closes lower as oil-driven inflation concerns weigh
South Korea’s benchmark KOSPI fell 0.58% to 6,955 on Tuesday. Brent crude rose above $97 amid Middle East shipping risks and rising oil prices, lifting expectations for further Federal Reserve rate hikes.
58% to close at 6,955 on Tuesday, reversing from an over one-month closing high in the previous session, as rising oil prices fueled inflation concerns and raised expectations for further Federal Reserve rate hikes. Brent crude climbed above $97 per barrel amid escalating Middle East tensions and concerns over supply disruptions. Iran warned of risks to shipping near the Strait of Hormuz despite an imminent deal with Oman to manage traffic. 34%).
29 trillion won. Markets now await Friday’s US inflation report for further clues on the Federal Reserve’s rate path. Meanwhile, renewed optimism over AI investment and strong memory-chip demand continued to underpin semiconductor stocks.