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🗂Domestic Stock Market (As of August 31st close) KOSPI: 6,820.02 (▲ 31.14, +0.46%) KOSDAQ: 834.29 (▼ 4.12, -0.49%) 🗂US Stock Market (As of August 31st local time close) DOW JONES: 53,185.90 (▼ 374.09, -0.70%) NASDAQ: 26,370.89 (▼ 31.53, -0.12%) S&P 500: 7,686.14 (▼ 25.62, -0.33%) PHILADELPHIA SEMICONDUCTOR: 11,510.20 (▲ 40.54, +0.35%) 🗂Exchange Rates & Commodities KRW/USD Exchange Rate: 1,367.64 KRW (▼ 10.49 KRW) WTI Crude Oil: $86.04 per barrel (▲ 2.60, +3.12%) Brent Crude Oil: $90.69 per barrel (▲ 2.40, +2.72%)

🗂KOSPI Faces 'Weak Start, Strong Finish' Test Amidst External Geopolitical Headwinds The KOSPI, which recovered the 6,820 mark the previous day, encountered external headwinds overnight with a sharp decline in the US stock market and crude oil prices surpassing $90. The possibility of an intraday rebound hinges on individual investors' bargain hunting and foreign capital flows. 🗂Focus on AI Semiconductor Supply as Support Amidst Inflation Fears Driven by Oil Prices While concerns over inflation due to high oil prices are capping the upside for the domestic stock market, attention is focused on whether major AI semiconductor stocks like Samsung Electronics and SK Hynix, boosted by Nvidia's earnings momentum, will act as saviors for the KOSPI. 🗂Won/Dollar Exchange Rate Sees Increased Volatility Between 1,360-1,370 Won Amidst Renewed Dollar Strength Pressure The Won/Dollar exchange rate, which entered the 1,360 won range intraday for the first time in 13 months yesterday, is facing upward pressure due to the resumption of Middle East-driven dollar strength. Export companies' selling of dollars and the foreign exchange authorities' fine-tuning are supporting the upper limit.

🗂NY Stock Market's 3 Major Indices Fall Together Amid US-Iran Geopolitical Clash As armed conflict between the US and Iran resumes in the Middle East, risk aversion in financial markets has sharply intensified. All three major New York stock indices, including the Dow Jones, plummeted, significantly increasing market volatility from the start of the week. 🗂International Oil Prices Surge Over 2% and Re-exceed $90 Amid Middle East Geopolitical Tensions Concerns over supply disruptions due to renewed tensions in the Strait of Hormuz and the Middle East have caused international oil prices to surge by more than 2%, surpassing the $90 per barrel mark again. The oil price hike has further heightened concerns about the resurgence of inflation. 🗂Long-Term US Treasury Yields Rise, Global Inflation Worries Re-emerge In the wake of soaring oil prices and the US-Iran clash, long-term interest rates, including the 30-year US Treasury yield, have resumed their upward trend, reaching around 5.26%. The combination of a hawkish Federal Reserve stance and rising oil prices continues to exert upward pressure on interest rates.

🗂Domestic Stock Market KOSPI: 6,820.02 (▲ 31.14, +0.46%) KOSDAQ: 834.29 (▼ 4.12, -0.49%) 🗂US Stock Market (As of market close on Aug 31st, local time) DOW JONES: 53,185.90 (▼ 374.09, -0.70%) NASDAQ: 26,370.89 (▼ 31.53, -0.12%) S&P 500: 7,686.14 (▼ 25.62, -0.33%) PHILADELPHIA SEMICONDUCTOR: 11,510.20 (▲ 40.54, +0.35%) 🗂Exchange Rates & Commodities KRW/USD Exchange Rate: 1,367.64 KRW (▼ 10.49 KRW, Won strengthening) WTI Crude Oil: $86.04 per barrel (▲ 2.60, +3.12%) Brent Crude Oil: $90.69 per barrel (▲ 2.40, +2.72%)

🗂KOSPI Recovers to 6,820 Level After Plunging Mid-Session, Following a 'Weak Open, Strong Close' Trend The KOSPI, which showed weakness immediately after the opening due to concerns over tightening by the US Federal Reserve, rebounded with the easing of net selling by foreign investors and bargain hunting by individuals and institutions, closing 0.46% higher than the previous session at 6,820.02. 🗂Won/Dollar Exchange Rate Tests the 1,360s After Entering the Range Mid-Session, Settling in the 1,370s Despite pressure for a stronger dollar, the exchange rate attempted to stabilize, hitting the lower end of the 1,360s for the first time in 13 months mid-session, due to inflows from exporters' negotiation settlements at month-end and the effect of the Bank of Korea's base rate hike. 🗂KOSDAQ Index Ends Slightly Down for the First Time in 3 Trading Days (834.29) In contrast to the KOSPI's rebound, the KOSDAQ index closed slightly down at the 834 level, with profit-taking selling emerging primarily in sensitive pharmaceutical/biotech and some secondary battery growth stocks due to concerns over prolonged high interest rates.

🗂Impact of Hawkish Fed Remarks and Simultaneous Rise in Treasury Yields & Dollar Index Following the digestion of remarks from the Jackson Hole Symposium signaling the Fed's intent to maintain its tightening policy, the 10-year US Treasury yield rebounded to around 4.72%. Consequently, the dollar index is once again threatening the 99 mark, shifting towards strength and heightening tensions in the global foreign exchange market. 🗂Surge in Japanese 10-Year Treasury Yields and Increased Volatility in Global Bond Markets The 10-year Japanese government bond yield, a key indicator of long-term interest rates, briefly climbed to 2.95%, marking a 30-year high. With the USD/JPY exchange rate surpassing the 160 yen level again, upward pressure on interest rates is spreading across major bond markets globally. 🗂International Oil Prices (WTI) Stabilize Around $83, Awaiting US Inflation Data International oil prices (WTI) are trading sideways around $83.4 per barrel. Despite easing geopolitical risks, supply concerns are providing support at the lower end. The market is closely watching key labor and consumer price data to be released this week to determine if inflation will continue to trend downwards.

🗂 Bank of Korea Rate Hike Aftermath & KOSPI Attempts to Settle Above 6,800 Following the shock decision by the Monetary Policy Board in August to raise the benchmark interest rate to 3.00% (annual), and amidst foreign selling pressure that caused a sharp decline, the domestic stock market has halted its fall over the weekend and is now consolidating to reclaim the 6,800 mark on the weekly chart. 🗂 USD/KRW Exchange Rate Settles Below 1,370, Foreign Exchange Supply Stabilizes Bolstered by the narrowing interest rate gap between Korea and the US and a surge in export-related dollar sales at the end of the month, the USD/KRW exchange rate has fallen to the early 1,370s. Compared to earlier concerns of breaching 1,500, the downward pressure on the Korean won appears to be somewhat easing. 🗂 Foreign Semiconductor Selling Eases, Capital Flows into Value-up & Financial Stocks The pace of foreign selling in IT tech stocks, which saw trillions of won in outflows late last week, has somewhat moderated ahead of the weekend. Meanwhile, capital continues to shift towards high-dividend financial stocks like banks and insurance, which are expected to benefit from the interest rate hike.

🗂Global asset markets remain cautious about sustained tightening following the Jackson Hole summit. . After Federal Reserve Chairman Kevin Wash's hawkish speech, New York financial markets were quiet over the weekend, reflecting receding expectations for interest rate cuts and forming a consolidation pattern. The market is once again closely watching the possibility of the Fed's inflation-fighting stance being prolonged. 🗂Market reaction limited despite US Treasury's announcement on debt management Although the US Treasury announced plans for additional bond purchases and adjustments to broaden the demand base for long-term government debt, concerns over the accumulating fiscal deficit prevailed, keeping US Treasury yields firm near the upper end of the 4.6% range. 🗂Geopolitical risks subside, international oil prices (WTI) stabilize around $82 As the tension surrounding maritime passage in the Middle East continues to ease, WTI crude oil prices have trended downwards, stabilizing around $82 per barrel. While the short-term inflationary pressure from high oil prices has somewhat subsided, a wait-and-see attitude prevails across the broader commodity market.

🗂Key Remarks Summary & Main Messages Chair Worsh stated, "The past monetary policy approach of forward guidance has expired," explicitly indicating a commitment to a strictly 'data-dependent' response without pre-declaring specific interest rate paths. Inflation Concerns Reaffirmed: Citing the July US Consumer Price Index (CPI) growth rate and Q2 GDP expansion exceeding market expectations, he strongly suggested that policy rates may be kept at restrictive levels or further tightened until inflation settles at the target of 2%. 🗂Specific Macroeconomic Background & Market Impact Policy Discord with US Treasury: Amidst the US Treasury's decision to expand its annual buyback of long-term government bonds to $4 billion starting in September to curb soaring yields, Chair Worsh's hawkish remarks blurred the lines between the central bank and the Treasury, further amplifying volatility in the bond market.

🗂Today's Key Financial and Economic Indicators (As of Market Close, August 29, 2026) 🗂Domestic Stock Market KOSPI: 6,788.88 (▼ 123.49, -1.79%) KOSDAQ: 791.83 (▲ 0.71, +0.09%) 🗂US Stock Market (As of Market Close, August 28 Local Time) DOW JONES: 53,559.99 (▼ 9.45, -0.017%) NASDAQ: 26,541.35 (▲ 400.64, +1.57%) S&P 500: 7,730.99 (▲ 55.43, +0.72%) Philadelphia Semiconductor Index: 11,469.66 (▼ 412.50, -3.47%) 🗂Exchange Rates and Commodities KRW/USD Exchange Rate: 1,379.50 KRW (▼ 19.62 KRW, Korean Won Strengthened) WTI Crude Oil: $83.51 per barrel (▼ 2.99, -3.46%) Dubai Crude Oil: $90.00 per barrel (▼ 3.02, -3.25%)