KOSPI Surges 11.5% to Bull Market Amid Fed Minutes and PMI Focus

South Korean KOSPI rises 11.5%, ending decline. Markets focus on Strait of Hormuz talks, Fed July minutes, and US/EU PMI data this week.

Woofun AI reports that global risk-on sentiment improved as the S&P 500 and Nasdaq hit new phase highs, driven by rate cut expectations and AI profit realization. The KOSPI index rose 11.5%, ending a seven-week decline and entering a technical bull market, while the DXY remained flat due to mixed inflation and retail sales data.

Attention centers on three variables: potential Strait of Hormuz breakthroughs involving Iran and Oman, Federal Reserve July meeting minutes releasing Thursday, and preliminary US and European PMI data on Friday. Key releases include Tuesday's US ADP employment, Wednesday's Fed minutes and unemployment claims, and Friday's Japan CPI and US PMI figures.