Kospi Reclaims 7,000 Intraday, Up 2.8% on US Inflation Data in South Korea

South Korea's benchmark KOSPI index reclaimed the 7,000-point mark during intraday trading on Thursday, climbing 2.80% to 7,004.40 as of 9:02 a.m., buoyed by revived global semiconductor investment sentiment after U.S. inflation data came in line with market expectations. The index had fallen below the 7,000 threshold at the previous close on Nov. 24 and had struggled to recover it since.

The rebound follows the release of both U.S. consumer price index (CPI) and producer price index (PPI) figures that matched forecasts, easing concerns about further interest rate hikes by the U.S. Federal Reserve. Market participants noted that negative narratives surrounding semiconductor stocks have been dissipating, contributing to the rally.