KOSPI Soars 2.66%... Eyes Another Run at 7,000

The KOSPI, South Korea's benchmark stock index, topped 6,900 and is back in bullish territory just three days after coming within sight of breaking 7,000. On the 18th, the KOSPI closed at 6,894.23, up 178.82 points (2.66%) from the previous session.

The biggest variable this week is Micron Technology's earnings release on the 22nd (local time), which will offer a gauge of the memory chip market outlook. Markets are closely watching Micron's results and the memory sector forecast as variables that could affect investor sentiment toward Korean semiconductor stocks such as Samsung Electronics and SK hynix.

The schedule of U.S. economic data releases is also seen as a market variable. Flash S&P manufacturing and services PMI figures for September come out on the 23rd, followed by August new home sales on the 24th. Then on the 25th, August durable goods orders and the University of Michigan consumer sentiment index for September are due in succession. Domestic releases continue as well, with September trade trends on the 21st and the September consumer confidence index on the 23rd.

There is also an AI-related event on the calendar. Meta will hold its annual developer conference, Meta Connect 2026, on the 24th and 25th (Korea time). With calls growing for a slower pace of AI investment, Meta CEO Mark Zuckerberg will deliver the keynote address.

Trading conditions, however, will be limited. The Korean market will be closed on the 24th and 25th for the Chuseok holiday. Japan is shut on the 21st for Respect for the Aged Day, the 22nd for a substitute holiday, and the 23rd for the Autumnal Equinox, while China and Taiwan enter their Mid-Autumn Festival holidays, making for a generally shortened trading week across Asian markets.