KOSPI Falls Below 6,000 Despite Samsung Electronics’ Record Results as Uncertainty Over Shareholder Returns Weighs on Sentiment

The U.S. Federal Reserve held its benchmark rate steady, but markets priced in about an 85% probability of a rate hike in December. The Fed said energy prices had recently risen, economic activity remained solid, and gross domestic product and employment were also healthy. It also indicated that while financial conditions were tighter than before, it was difficult to conclude that they were sufficiently restrictive.

The Fed said it would, from 2027, convert one of its eight annual meetings into a meeting focused solely on monetary policy strategy, without a rate decision or statement, and that it planned to increase the number of strategy meetings to two in 2028. It has not decided how much of the strategy meeting outcomes and minutes will be disclosed. Further clarification is needed on whether adjusting the number of meetings will reduce market uncertainty or instead increase it by limiting the information made public.

The Fed chair said there was keen interest in the Korean economy and technology supply chains. The remarks indicated that the Fed was monitoring the roles of South Korea, Japan and Singapore in the supply of critical components, including semiconductors.

The second Korea Grand Festival will run from October 29 to November 15. Participating sectors include department stores, large retailers, convenience stores, automobiles and home appliances, dining and lodging, with discounts, gift certificates and benefits for local businesses on offer. The event also includes benefits for tourism and culture and for foreign visitors.

Small and medium-sized businesses, small merchants and traditional markets are also taking part. Given the festival’s aim of supporting spending in sectors struggling with weak domestic demand, some said it was important for consumers to purchase goods and services they need, helping channel spending into local commercial districts.