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🗂US August Non-Farm Payrolls Surge (+162,000) and Fed Rate Path Under Scrutiny The number of new non-farm payroll jobs in August increased by 162,000, significantly exceeding market expectations (55,000) by about threefold. While a robust labor market eased concerns about an economic recession, the New York stock market continued its differentiated performance over the weekend, influenced by the prevailing view that the US Federal Reserve's (Fed) hawkish tightening stance might be prolonged. 🗂US 10-Year Treasury Yield Stabilizes Below 4.76% and Dollar Strength Eases Following dovish remarks from Fed officials and the digestion of employment data, the US 10-year Treasury yield retreated from its highs and stabilized around 4.76%. Consequently, the upward pressure on the dollar eased, leading to a reduction in risk aversion in emerging market asset classes.

📈 Korean Stock Market (Close on Sep 4) KOSPI: 6,687.21 (▲ 107.73, +1.64%) KOSDAQ: 813.50 (▲ 23.29, +2.95%) 📈 US Stock Market (Close on Sep 4) DOW: 53,689.85 (▲ 627.90, +1.18%) NASDAQ: 26,584.06 (▲ 366.23, +1.40%) S&P 500: 7,747.71 (▲ 81.11, +1.06%) Philadelphia Semiconductor Index: 11,735.60 (▲ 383.47, +3.38%) 📊 Exchange Rates & Commodities (As of Sep 4 Close) KRW/USD Exchange Rate: 1,346.00 KRW (▼ 13.30 KRW, Won strengthening) WTI Crude Oil: $91.30 per barrel (▲ 0.29, +0.32%)

🗂KOSPI Surges 1.64% on Joint Buying by Institutions and Foreigners Fueled by positive sentiment from the US Federal Reserve and stabilizing government bond yields, both institutions (₩1.67 trillion) and foreign investors (over ₩500 billion) engaged in joint net buying, driving the KOSPI up by 1.64% to strongly rebound around the 6,680 mark. 🗂Won/Dollar Exchange Rate Enters the 1,340s During Trading, Closing Significantly Down at 1,350.4 Won As downward pressure on the dollar eased and foreign exchange supply/demand improved, the won/dollar exchange rate closed at 1,350.4 won, down 8.9 won from the previous day. It touched the 1,340s during trading, deepening its downward stabilization trend. 🗂Resumption of Rally Led by Large Semiconductor Stocks, Financials, and Value-up Stocks With the wave of foreign selling coming to a halt, major semiconductor stocks like Samsung Electronics and SK Hynix successfully rebounded. Additionally, capital inflows remained robust into financial stocks, which benefit from the Bank of Korea's interest rate hikes and possess high-dividend momentum.

🗂NY Stocks Rally Over 1% on Dovish Fed Remarks The New York Stock Exchange (Dow +1.18%, S&P500 +1.06%, Nasdaq +1.40%) surged by over 1% across the board as Christopher Waller, a Fed Governor, made dovish comments on monetary policy, easing concerns about further interest rate hikes. 🗂US 10-Year Treasury Yields Stabilize Below 4.76% Amid Risk Appetite Recovery With reduced fears of additional rate hikes, US 10-year Treasury yields retreated from their highs, stabilizing around the 4.76% mark. Consequently, investor sentiment rapidly recovered, particularly for tech and large software stocks. 🗂Oil Prices Hold Above $90 Amid Lingering Inflation Worries With only weak signals of easing geopolitical tensions in the Middle East, WTI crude oil remained around $91 per barrel, and Brent crude held in the mid-$90s. Despite stable Treasury yields, concerns about long-term inflation persist due to sustained high oil prices.

🗂Domestic Stock Market (Close on Sep 3) KOSPI: 6,579.48 (▲ 16.76, +0.26%) KOSDAQ: 790.21 (▼ 13.77, -1.71%) 🗂US Stock Market (Close on Sep 3) DOW: 53,689.85 (▲ 627.90, +1.18%) NASDAQ: 26,584.06 (▲ 366.23, +1.40%) S&P 500: 7,747.71 (▲ 81.11, +1.06%) Philadelphia Semiconductor: 11,352.13 (▲ 12.87, +0.11%) 🗂Exchange Rates & Commodities (As of Close on Sep 3) KRW/USD Exchange Rate: 1,359.30 KRW (▼ 9.40 KRW, Korean Won Strengthening) WTI Crude Oil: $91.30 per barrel (▲ 0.29, +0.32%)

🗂Domestic Economic Issues KOSPI Swings 4%p Intra-day, Ends with a 'Nervous Rebound' of 0.26% (6,579.48) The KOSPI, which plummeted the previous day, started higher on the back of a stabilizing US market, but volatility peaked as institutions turned to net selling during trading hours. As selling pressure eased towards the end, it closed with a nervous rebound, up 0.26% from the previous session at the 6,579 level. 🗂KOSDAQ Index Falls an Additional 1.71% Amid Foreign and Institutional Net Selling (790.21) Unlike the KOSPI, the KOSDAQ market saw simultaneous sell-offs by foreign and institutional investors, particularly in sensitive pharmaceutical, biotech, and secondary battery growth stocks, due to the shock of high interest rates and oil prices. It fell 1.71% to the 790 level. 🗂Won/Dollar Exchange Rate Settles Down in the 1,359 Won Range with Inflow of Export Firms' Negotiation Funds In the Seoul foreign exchange market, the won/dollar exchange rate fell compared to the previous day due to the inflow of dollar selling (negotiation) funds from export firms, carried over from month-end, and concerns about fine-tuning by foreign exchange authorities. It finished the weekly trading at 1,359.3 won.

🗂US Stocks Rebound Slightly After Sharp Decline on Bargain Hunting The New York stock market (S&P 500 +0.46%, Nasdaq +0.45%), which plummeted due to Middle East-related negative news the previous day, saw a slight increase driven by bargain hunting, particularly in tech stocks. However, upward pressure remained limited due to the lingering concerns over military conflict in the Middle East. 🗂US Treasury Yields Consolidate, Dollar Index Slightly Declines The sharply rising 10-year US Treasury yield paused its ascent around 4.78% and showed signs of stabilizing with a slight decrease. The dollar index also settled around 99.5, temporarily curbing the expansion of upward volatility in the global foreign exchange market. 🗂International Oil Prices Remain Strong Between $91-$95, Geopolitical Remarks Watched Amid ongoing military tensions in the Middle East, Brent crude traded around $95 per barrel and WTI around $91, maintaining concerns about inflation due to rising oil prices. International oil prices are fluctuating based on remarks related to geopolitical risks.

🗂Domestic Stock Market (As of market close on September 2nd) KOSPI: 6,805.15 (▼ 14.87, -0.22%) KOSDAQ: 830.12 (▼ 4.17, -0.50%) 🗂US Stock Market (As of market close on September 2nd, local time) DOW: 53,010.45 (▼ 175.45, -0.33%) NASDAQ: 26,290.10 (▼ 80.79, -0.31%) S&P 500: 7,652.80 (▼ 33.34, -0.43%) Philadelphia Semiconductor Index: 11,420.15 (▼ 90.05, -0.78%) 🗂Exchange Rates & Commodities KRW/USD Exchange Rate: 1,374.20 KRW (▲ 6.56 KRW, Korean Won weakened) WTI Crude Oil: $87.15 per barrel (▲ 1.11, +1.29%) Dubai Crude Oil: $91.80 per barrel (▲ 1.11, +1.22%)

🗂Foreign Investors & Institutions Log Combined Net Selling of Over 4 Trillion Won vs. Retail Investors Buy Dips Worth 2.3 Trillion Won In the KOSPI market, foreign investors (1.9 trillion won) and institutions (2.0 trillion won) unleashed a wave of selling, while individual investors executed large-scale bargain hunting, buying up 2.3 trillion won worth of stocks and partially defending the index from further declines. 🗂KOSDAQ Index Drops 2.10% (803.98), Barely Holding the 800-Point Mark The KOSDAQ index also closed down 2.10% at 803.98 due to concerns over prolonged high interest rates and contagion from the stock market sell-off. However, the decline was relatively smaller compared to the KOSPI, which was heavily impacted by major semiconductor stocks. 🗂Won/Dollar Exchange Rate Closes Slightly Lower at 1,362.7 Won Amid Export Firms' Dollar Selling Despite the stock market crash, the Won/Dollar exchange rate closed at 1,362.7 won in the Seoul foreign exchange market, a slight decrease from the previous day. This was due to dollar selling (negotiation) from export firms, carried over from the end of the month, capping the upside.

🗂Middle East Geopolitical Conflict Intensifies, US 10-Year Treasury Yield Surges and Global Stock Markets Decline As fears of renewed military conflict between the US and Iran spread, driving risk aversion, the yield on US 10-year Treasury notes saw a sharp increase. Major New York stock indices (S&P 500 -0.71%, Nasdaq -1.03%) all closed lower, reflecting the growing unease in global asset markets. 🗂International Oil Prices Break $90/barrel, Highlighting Inflationary Pressures Concerns over supply disruptions due to heightened tensions in the Strait of Hormuz pushed international oil prices above $90 per barrel. The market is increasingly wary that a prolonged surge in oil prices could impede the Federal Reserve's plans for interest rate cuts. 🗂Eurozone and Major Countries' Bond Yields Continue to Soar Fueled by high oil prices and escalating geopolitical risks, bond yields in major European countries, including Germany and the UK, also climbed consecutively. Concerns over prolonged high interest rates have led to a sharp cooling of investment sentiment across risk assets.