KOSPI Rebounds Nearly 4% in Early Trading, Escaping Bear Market Territory

• The KOSPI index rebounded after a four-day decline, potentially signaling a bottom around the 7,200 level. • The previous slump was driven by investor concerns regarding a potential peak in the semiconductor sector.

• Asian stock markets rose, driven primarily by a rally in South Korean shares and the semiconductor sector. • Oil prices climbed for a third consecutive day, reaching approximately $78.80 per barrel.

• On July 9, Japanese and South Korean stock markets opened with significant gains, led by a broad rally in memory chip stocks. • The Nikkei 225 and KOSPI indices both rose, with SK Hynix and Kioxia surging approximately 8%, while Samsung Electronics and SoftBank also saw increases.

• TVS Motor Company Ltd. has partnered with Oil Corporation to deploy TVS King Kargo HD vehicles for last-mile LPG cylinder delivery across IndianOil's distributor network. • SML Mahindra reported a 4.9% year-on-year increase in commercial vehicle sales for June 2026, moving 1,896 units compared to 1,807 units in the previous year.

• The Federal Reserve released the official minutes from the Federal Open Market Committee (FOMC) meeting conducted on June 16–17, 2026. • These documents provide a detailed record of the discussions and deliberations held by the central bank's policymakers regarding the U.S. monetary system.

• Citigroup Inc. is preparing for its next earnings cycle amidst a complex macroeconomic environment and a broad global banking footprint. • The company is currently undergoing a significant organizational restructuring aimed at improving operational efficiency and simplifying its business model.

• Oil-sensitive Indian stocks, including IndiGo and HPCL, plunged by up to 5% following US airstrikes on Iran. • The market downturn was triggered by rising crude oil prices and the reinstatement of sanctions on Iranian oil sales.

• The Federal Reserve's rate-setting committee decided to keep its key interest rate unchanged during its most recent meeting. • Minutes released Wednesday reveal a split among officials regarding whether inflation will remain elevated or cool down following the conclusion of the Iran war.

• Federal Reserve meeting minutes from June reveal that policymakers observed mounting concerns regarding inflation. • Officials discussed a proposal to end "forward guidance" and shorten the official statement to provide less specific commentary on future rate decisions.

• National Bank Financial analyst Cameron Doerksen has issued a cautious outlook on Bombardier Inc. (BBD.B-T) ahead of its second-quarter financial results. • While Doerksen acknowledges that market conditions remain strong and a weaker Canadian dollar has likely boosted the stock, he warns that the company's valuation is now "looking elevated."

• Asian stock markets, including Japan's Nikkei and South Korea's KOSPI, declined on Wednesday as investors shifted away from high-valuation assets. • The downturn was primarily driven by a sell-off in semiconductor shares and AI-related stocks that occurred earlier in the week.