South Korean Shares Rebound, Snaps 4-Day Losing Streak

The benchmark KOSPI climbed 1.5% to around 2,622 points in early trade on Thursday, after reaching a nearly 11-week low in the previous session and snapping a four-day losing streak, with all sectors participating in the rebound.

Producer manufacturing stocks posted the biggest increase, with notable gains from LG Energy Solution (2.1%), Samsung SDI (4.7%), and Ecopro BM (5.6%).

Other index heavyweights also advanced, including Samsung Electronics (0.5%), Hyundai Motors (0.6%), Celltrion (2.6%), and Posco Holdings (5%).

Meanwhile, markets are speculating that the Federal Reserve might delay rate cuts or potentially opt not to ease policy at all this year driven by hawkish tones from Fed officials amid stubborn inflation.