20260823 Domestic Economic Issues

🗂 KOSPI Recovers to 6,900 Level on Shareholder Return Expectations for Major Semiconductor Stocks Despite external headwinds from rising US Treasury yields, the KOSPI rebounded to 6,910, driven by expectations of massive shareholder return policies from major semiconductor companies like Samsung Electronics. Institutional buying led the index's recovery. 🗂 Won/Dollar Exchange Rate Hovers in Late 1,380s Amid Breathing Room and Watchful Eyes of Forex Authorities Despite the resumption of global dollar strength, the won/dollar exchange rate closed slightly lower at 1,386.5 won, supported by inflows of settlement funds from exporters. Exchange rate volatility is likely to increase again depending on the dollar's direction following the Jackson Hole meeting results. 🗂 Sell-off Intensifies for KOSDAQ Growth Stocks, Triggering Intraday Sell-off Circuit Breaker The KOSDAQ market, sensitive to rising interest rates, plunged to 801, down 4.6%, with extreme volatility leading to the activation of an intraday sell-off circuit breaker. Net selling from foreign and institutional investors poured into high-valuation growth stocks, particularly in secondary battery and bio/pharma sectors.