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Securities firms are on track to lower the outlook on the benchmark KOSPI, citing the possibility of Korean stocks entering a readjustment period after achieving a vigorous rally throughout January. They expected the local stock market to face widening volatility this month amid rekindling woes over global monetary tightening after the U.S. reported robust job recovery. Key economic indicators also reacted sensitively to the job data, with the U.S. dollar strengthening its value again in response to the heightened fears of the Fed extending its hawkish rhetoric. Wall Street and stocks from emerging countries also plunged amid the abrupt shift in the global monetary atmosphere. ....
The benchmark KOSPI advanced Thursday after the U.S. Fed slowed its pace of rate hikes, in a relief rally buoyed by increasing hopes for an end to the cycle of global monetary tightening. Other multiple indices also moved in favor of risky assets, with the U.S. dollar losing its ground against the Korean won. Cryptocurrencies extended gains after the Fed s “unsurprising” decision of increasing its benchmark rate by 25 basis points. ....