South Korean Shares Rally on AI Optimism, Tame US Inflation

South Korean shares, led by chipmakers, surged to a three-week high on Friday, driven by AI optimism and expectations that the US Federal Reserve will hold interest rates after tame producer price inflation data. The benchmark KOSPI gained 0.82%, extending its rally to 9.4% over five sessions, while the S&P 500 also hit a record high. Foreign investors were net buyers of 780.2 billion won ($550.81 million) in shares. This global sentiment, fueled by easing US inflation concerns, could weaken the US dollar, potentially supporting international gold prices and easing pressure on the Pakistani Rupee.

بحوالہ / Source: www.brecorder.com