Nasdaq Rises 0.90%, KOSPI Surges 6.24%: Cooling US Inflation and Semiconductor Rebound Drive the Markets
Both the US Nasdaq and South Korea’s KOSPI recorded strong gains. On July 14, US markets rebounded, led by tech stocks, thanks to cooler-than-expected inflation data and strong earnings from major Wall Street banks. Riding on this positive momentum and a massive wave of foreign net buying, South Korea's KOSPI surged over 8% intraday on July 15. Although it pared some gains in the afternoon due to profit-taking, it still closed with a stellar 6.24% gain . Given the extreme swings of sharp drops and rapid surges over the past few days, it is too early to say the market has fully stabilized. Instead, it is more accurate to view this as a strong rebound in investor sentiment, centered heavily around semiconductor stocks. Nasdaq Up 0.90% to Close at 26,107.01 On July 14, the Nasdaq Composite Index rose 233.83 points, or 0.90%, to close at 26,107.01 . The S&P 500 climbed 28.25 points, or 0.38%, to 7,543.59 . The Dow Jones Industrial Average gained 9.63 points, closing flat-to-pos...