KOSPI

South Korea's Inflation Accelerates to 2.6% in April

South Korea's inflation climbed 2.6% year on year in April, accelerating from a 2.2% rise in March amid the ongoing conflict in the Middle East, data from the country's Ministry of Data and Statistics showed on Wednesday.The headline print was in accordance with the median estimate of 2.6% in a Bloomberg survey.The increase was driven by higher costs across all categories, with transport gaining the highest at 9.7%, according to the data.Meanwhile, core inflation, which measures prices of goods excluding food and energy, remained steady at 2.2% in April.On a monthly basis, core inflation rose to 0.3% from 0.1% in the preceding month, while headline inflation rose to 0.5% from 0.3%.

South Korea's Inflation Rises to 2.6% in April; Core Inflation Steady at 2.2%

South Korean Shares Close at New High, Lifted by Semiconductor Stocks

South Korean stocks surged more than 5% on Monday to close at a record high, with the Kospi nearing 7,000 points, as strong buying in semiconductor shares boosted the market while investors kept a close eye on developments in the U.S.-Iran peace talks front.The Korea Composite Stock Price Index or Kospi increased 338.12 points, or 5.1%, to end at 6,936.99. The Kosdaq also rose by 21.39 points, or 1.8%, to close at 1,213.74.On Sunday, President Donald Trump said the U.S. would help countries with ships stranded in the Strait of Hormuz. The US military support will comprise guided-missile destroyers, over 100 land and sea-based aircraft, multi-domain unmanned platforms, and 15,000 service members. However, the naval mission is being seen as a violation of the ceasefire by Iran, top Iranian lawmaker Ebrahim Azizi said.In economic news, South Korea's manufacturing sector continued to expand in April, with the seasonally adjusted headline S&P Global South Korea Manufacturing Purchasing Managers' Index increasing to 53.6 last month from 52.6 in March, S&P Global said in a Monday report.A reading above 50 indicates an overall increase compared with the previous month, and below 50 indicates a decline.April's expansion in the country's manufacturing sector was the strongest since February 2022.In corporate news, HD Korea Shipbuilding & Offshore Engineering (KRX:009540) secured an order worth 504.8 billion won for three very large gas carriers from South Korean shipper KSS Shipping.Shares of HD Korea Shipbuilding rose nearly 2% at market close.

Asia Week Ahead: PMI Reports; Central Bank Decisions; and Inflation Prints

For the week ahead in Asia, the economic calendar is packed with S&P Global's monthly purchasing managers' index reports, inflation prints, and central bank decisions across the region.Monday brings a slate of S&P Global manufacturing PMI reports for April, alongside Indonesia's inflation and trade figures.On Tuesday, markets will turn to the Reserve Bank of Australia's interest rate decision, while Thailand and the Philippines release April inflation data.Wednesday features South Korea's April inflation print and New Zealand's first-quarter labor-market report, along with PMI readings from India, China, Hong Kong and Singapore.On Thursday, Malaysia's central bank decision will be in focus, alongside Taiwan's April inflation data and the Philippines' first-quarter GDP report.On Friday, Taiwan's April trade data and Malaysia's March industrial production figures will be due, before China closes out the week with April trade figures on Saturday.Here's what to watch in the week ahead.MONDAY, May 4The week kicked off with a slate of S&P Global purchasing managers' index reports covering manufacturing activity during April.Most economies in the region saw a rise in output despite the ongoing conflict in the Middle East which has pushed oil prices upwards.Malaysia's manufacturing sector expanded at its fastest pace in four years in April, supported by stronger output and a return to growth in new orders.The S&P Global Malaysia Manufacturing Purchasing Managers' Index rose to 51.6 in April from 50.7 in March, marking a second straight month of expansion.Output grew at the fastest pace since December 2021, while new orders increased as firms and clients built safety stocks amid uncertainty linked to the Middle East war.Output activity also expanded in South Korea, India, and Taiwan, according to S&P Global.Meanwhile, Vietnam's manufacturing sector also expanded, albeit at a slower pace.The S&P Global Vietnam Manufacturing PMI slipped to 50.5 in April from 51.2 in March, a seven-month low, signalling a tenth straight month of expansion but only marginal growth.In contrast, Indonesia's manufacturing sector slipped into contraction in April as cost pressures intensified due to material shortages and delays linked to the Middle East conflict.The S&P Global Indonesia Manufacturing Purchasing Managers' Index fell to 49.1 in April from 50.1 in March, dropping below the 50 mark for the first time in nine months.Manufacturing activity similarly slipped in the Philippines as new orders fell sharply and cost pressures intensified.Indonesia released inflation figures, noting a 2.4% year on year rise in prices during April -- slower than the 3.5% recorded a month prior.The island state also booked a trade surplus of $5.55 billion in the first quarter, supported by a strong non-oil and gas balance despite higher import growth, according to official data released by Statistics Indonesia.The Melbourne Institute released its monthly inflation gauge, noting another increase in April, mainly driven by higher recreation-related prices. The monthly cost of living also increased in April, especially for employees and self-funded retirees.TUESDAY, May 5An interest rate decision in Australia will capture headlines on Tuesday.The Reserve Bank of Australia is likely to rate hikes by 25 basis points to 4.35% as persistent inflation pressures and rising fuel costs linked to Middle East supply disruptions keeps the central bank on a hawkish path even as global peers hold steady.Thailand and the Philippines will release inflation data for April.Economists at ING said they expect the Philippines' headline inflation to rise above 5% as the government passes on the impact of higher global oil prices onto consumers. The Philippines' inflation climbed to 4.1% in March.Thailand is similarly expected to see a rise in consumer prices during April. According to a consensus compiled by Trading Economics, headline inflation could clock in at 1.7% on an annual basis, compared with a 0.08% decline in March.First-quarter gross domestic growth data will be due in Indonesia. DBS said it was forecasting 5.6% growth for the quarter thanks to government spending and festive spending during the period, the Wall Street Journal reported.Hong Kong will similarly release its first-quarter advance GDP growth estimate on Tuesday.Meanwhile, March retail sales figures will be expected in Singapore.On the activity front, S&P Global will release PMI reports manufacturing activity in Thailand and services and composite activity in Australia.WEDNESDAY, May 6Another inflation print, this time in South Korea.Economists at ING said they expect consumer prices to rise at a faster pace in April despite attempts by Seoul to rein in the impact of rising oil costs on consumers. A consensus compiled by Trading Economics indicated headline inflation could clock in at 2.6%.In March, South Korea's annual inflation rose to 2.2%, breaching the central bank's 2% target.First-quarter labor data from New Zealand will also be in the news.CommBank expects headline labor-market figures to remain weak, forecasting just 0.1% quarterly employment growth and a rise in unemployment to 5.5%, compared with Trading Economics consensus estimates of 0.3% employment growth and a 5.4% jobless rate for the first quarter."We do not envisage a labor market recovery until 2027, reflective of adverse impacts from geopolitical ructions," CommBank said in a preview.The Philippines will similarly release labor data for March, as well as industrial production figures.ING said it expects unemployment to edge higher. "On the industry side, weak soft construction activity should continue to weigh on growth," ING said.Additional S&P Global PMI reports covering services and composite activity in India and China, as well as overall activity in Hong Kong and Singapore, will be due.A business confidence report will be due in Thailand, while Hong Kong's March retail sales figures will also be on display.THURSDAY, May 7Malaysia's central bank will meet for its interest rate decision, with no change expected in the 2.75% policy rate.RHB Bank said it expects Bank Negara Malaysia to hold rates as growth remains steady and inflation remains in check, the Wall Street Journal reported.Taiwan's April inflation print will be due, with analysts looking for signs on how the Iran war was weighing in on prices. ING said it expects to see inflationary pressure picking up after limited pass through of energy prices in March.Australia will release March trade figures. The country's trade surplus could fall to A$4.45 billion from the A$5.69 billion recorded in the month prior, according to a consensus compiled by Trading Economics.CommBank said it expects the goods trade balance to decline due to rising fuel imports in the wake of the Iran conflict.The Philippines' first-quarter GDP growth figures will be expected. ING said the Philippines' economy could recover to a growth of 4.3% year on year thanks to favorable base effects and some pick-up in government spending.The Philippines' economy grew by 3% last quarter.Another confidence report covering consumer sentiment will be due in Thailand.FRIDAY, May 8Markets will be on the lookout for Taiwan's trade data for April.ING said it expects the island state's trade surplus to rise to $21.6 billion from $21.3 billion in the month prior. "We're looking for another strong month, with 59.3% YoY export growth and 35.5% import growth," ING said in a preview.In Malaysia, March industrial production figures will be due.S&P Global will release PMI reports covering services and composite activity in Japan.SATURDAY, May 9China will release its April trade data on Saturday.The world's second largest economy could record a surplus of $82.4 billion for the month, rising from $51.13 billion in March, according to a consensus compiled by Trading Economics.Analysts at DBS expect a sharp uptick in surplus, with export growth more than doubling to 8.4% from the 2.5% rise seen in March, the WSJ reported.

Market Chatter: Bank of Korea Deputy Chief Says Time to Consider Rate Hike

Bank of Korea's senior deputy governor Sang-dai said Sunday that it was time to stop rate cuts and start thinking about rate hikes, taking into account persistent inflationary pressures despite measures such as nationwide fuel price caps, Reuters reported Monday.Since April, expectations suggest economic growth will remain close to 2%, while inflation is likely to surpass 2.2%, Ryoo said, backing his claim for rate hikes ahead.In April, the South Korean central bank kept interest rates steady amid increasing uncertainty from Middle East tensions and its possible effect on growth and inflation. Ryoo's remarks followed the country recording its fastest growth in nearly six years in the first quarter, driven by better-than-expected chip exports, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

South Korea's Manufacturing Sector Continues to Expand in April

South Korea's manufacturing sector continued to expand in April, with the seasonally adjusted headline S&P Global South Korea Manufacturing Purchasing Managers' Index increasing to 53.6 last month from 52.6 in March, S&P Global said in a Monday report.A reading above 50 indicates an overall increase compared with the previous month, and below 50 indicates a decline.April's expansion in the country's manufacturing sector was the strongest since February 2022.The ongoing tensions in the Middle East took a toll on manufacturing, with higher cost burdens being prevalent from the beginning of the second quarter. A surge in oil and fuel prices translated to higher raw material prices, which increased costs for end customers. Delivery delays and supply shortages were rampant during the month.In addition, average lead times for input deliveries also increased to the greatest extent since June 2022, due to higher raw material prices.Looking ahead, optimism was at its lowest in five months, amid the uncertainty over the length of the Middle East conflict and its effect on the supply chain and prices.

ADB Pledges $70 Billion For Energy, Digital Networks Across APAC as Middle East Conflict Batters Outlook

The Asian Development Bank is committing $70 billion to support new energy and digital infrastructure initiatives across the Asia-Pacific region by 2035.ADB President Masato Kanda announced the pledge on Sunday during the lender's annual meeting in Uzbekistan."Energy and digital access will define the region's future," said Kanda. "These two initiatives build the systems Asia and the Pacific need to grow, compete, and connect. By linking power grids and digital networks across borders, we can lower costs, expand opportunity, and bring reliable power and digital access to hundreds of millions of people."The pledge comes as the ADB sharply downgraded its forecast for the APAC region, citing energy disruptions from the ongoing Middle East conflict.On Wednesday, the ADB slashed its GDP growth outlook for developing Asia and the Pacific to 4.7% in 2026 from the previous 5.1% forecast.Inflation for 2026 is projected to accelerate to 5.2% in 2026 from 3% in 2025, before easing to 4.1% in 2027."Our revised outlook is a significant downward revision for growth and a sharp increase in inflation following a special update to reflect the deepening crisis," Kanda said at the time.The bank's new outlook assumes that oil prices average around $96 a barrel in 2026, well above the $69 per barrel average in January and February before the Middle East conflict. The bank expects oil prices to ease to around $80 per barrel in 2027."We are confronting systemic, long-lasting disruptions to global energy and trade networks, not just temporary volatility. ADB will remain an agile partner in protecting the region's economy; tracking fast-moving risks, and moving with urgency to scale up our support," Kanda added.Diesel prices across several Southeast Asian countries have increased by more than 100% since late February, the ADB said in its updated outlook report.The ADB also noted in its Wednesday report that the energy shock is also affecting fertilizer prices, which it said could add to food inflation, particularly for economies most dependent on Middle East imports.Against that backdrop, the ADB is committing $70 billion to build new energy and digital infrastructure in Asia and the Pacific by 2035.The largest investment, worth $50 billion, will be allocated towards cross-border power infrastructure to unlock renewable energy at scale, the ADB said.The project will focus on transmission and grid integration, including cross-border lines, substations, storage, and grid digitalization, according to the lender.By 2035, the bank aims to integrate about 20 gigawatts of renewable energy across borders, connect 22,000 circuit-kilometers of transmission lines, and cut regional power sector emissions by 15%, while improving energy access for around 200 million people.The remaining $20 billion will fund the Asia-Pacific Digital Highway, targeting digital corridors, data infrastructure, and AI-ready economies.The project aims to bring first-time broadband access to 200 million people and cut connectivity costs in remote and landlocked areas by about 40%.The South Korean government will back a new Center for AI Innovation and Development in Seoul with a $20 million contribution. The center will aim to train about 3 million people in digital and AI-related skills by 2035.Separately on Sunday, the ADB also unveiled a Critical Minerals-to-Manufacturing Financing Partnership Facility designed to help the region move beyond mining into higher-value industries such as processing, manufacturing, and recycling.Japan committed $20 million to the grant window, the UK contributed $1.6 million, and the Korea Eximbank and the Korean Trade Insurance Corporation each signed $500 million memorandums as the facility's first partners.

South Korea's Kospi Opens at New High as Middle East Tensions Ease

South Korean shares opened at a new high on Monday as investor tensions appeared to ease after US President Donald Trump said Sunday that the US would help countries with ships stranded in the Strait of Hormuz, naming it Project Freedom.The benchmark Korea Composite Stock Price Index, or Kospi, rose by 184.06 points to open at 6,782.93. The Kosdaq marginally gained to open at 1,212.28.The blockade of Iranian ports continues and does not represent a continuation of the US-Iran conflict, Trump said.The US military support under Project Freedom will comprise guided-missile destroyers, over 100 land and sea-based aircraft, multi-domain unmanned platforms, and 15,000 service members.However, the naval mission is being seen as a violation of the ceasefire by Iran, top Iranian lawmaker Ebrahim Azizi said.

South Korea Logs Second Straight Month of Over $20 Billion Trade Surplus

South Korea recorded a trade surplus of $23.8 billion in April, which was the second straight month of more than $20 billion in trade surplus for the first time, the Ministry of Trade, Industry and Energy said in a Friday release.Exports in the month increased 48% to $85.9 billion from the year-ago period, while imports rose 16.7% to $62.1 billion, the release said.Eight of the top 15 export categories recorded growth in the month, with outbound shipments led by semiconductors, petrochemicals, and petroleum products, while other sectors, including computers, ships, wireless communication devices, display panels, and steel, also recorded higher exports, according to the trade ministry.Semiconductor exports gained 173.5% to $31.9 billion, while automobile exports declined 5.5% to $6.17 billion from April 2025, the release said.

South Korean Shares Fall on FOMC's Rate Decision, Oil Price Surge

South Korean shares closed lower on Thursday despite opening at a record high in the day, following the US Federal Reserve's decision to keep the benchmark interest rates unchanged in the range of 3.50% to 3.75%.This hawkish interpretation of the Federal Open Market Committee (FOMC) took into account the ongoing Middle East conflict and high energy prices, which led to rates being held steady at Jerome Powell's final policy announcement before his term as Fed chief ended on May 15.In addition, increasing global oil prices also took a toll on investor sentiment, with Brent crude hitting an intraday high of $126.41 per barrel--its highest since June 2022-- while West Texas Intermediate (WTI) briefly surpassed $110.The Korea Composite Stock Price Index or Kospi fell 92.03 points, or 1.4%, to end at 6,598.87. The Kosdaq also declined by 27.91 points, or 2.3%, to close at 1,192.35.In economic news, South Korea's overall industrial output increased 0.3% month-on-month in March, decelerating sharply from a 5.3% monthly rise in February, according to data from Statistics Korea released Thursday.The construction and public administration indices fell by 7.3% and 3.3%, respectively, in March from the prior month, while the index for the service, mining and manufacturing industries added 1.4% and 0.3%, respectively.Total industrial production increased by 3.6% in March from the same month in 2025, after a 2.3% yearly decline in February.In corporate news, Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270), entered a multi-year partnership with the Georgia Institute of Technology to jointly develop hydrogen mobility solutions, according to a Thursday release.The agreement is expected to advance hydrogen-powered transportation, boost applied research, and hasten the use of zero-emissions vehicles in Georgia, it said.Shares of Hyundai Motor fell nearly 5% at market close, while those of Kia fell over 3%.

ADB Cuts Economic Growth Projections for Developing Asia Amid Middle East Crisis

The Asian Development Bank sharply downgraded its economic growth forecasts for developing Asia and the Pacific while raising inflation projections, citing prolonged disruptions from the Middle East conflict that are driving up energy prices and tightening financial conditions.The bank now expects regional growth of 4.7% in 2026 and 4.8% in 2027, down from its earlier forecast of 5.1% for both years. Meanwhile, inflation is projected to accelerate to 5.2% this year before slowing to 4.1% in 2027, according to the latest ADB report.ADB said the revisions reflect sustained pressure on oil and gas prices, with crude expected to average about $96 per barrel in 2026, significantly higher than pre-conflict levels, weighing on fuel-importing economies.Under a more severe scenario, growth could ease further to 4.2% this year and 4% next year, while inflation may spike to 7.4% in 2026, the bank added, urging targeted fiscal support and measured monetary responses.

South Korea's Monthly Industrial Production Growth Decelerates Sharply in March

South Korea's overall industrial output increased 0.3% month-on-month in March, decelerating sharply from a 5.3% monthly rise in February, according to data from Statistics Korea released Thursday.The construction and public administration indices fell by 7.3% and 3.3%, respectively, in March from the prior month, while the index for the service, mining and manufacturing industries added 1.4% and 0.3%, respectively.Total industrial production increased by 3.6% in March from the same month in 2025, after a 2.3% yearly decline in February.

South Korean Shares Open at New High on Samsung Electronics, US Big Tech's Stellar Q1 Earnings

South Korean shares opened higher on Thursday, starting the trading at a new high after market mover Samsung Electronics (KRX:005930) reported strong first-quarter sales and operating income.In addition, strong Q1 earnings by top US firms such as Alphabet, Amazon.com, Meta Platforms, and Microsoft also boosted sentiment. The strong results also restored investor confidence in the AI sector boom.The benchmark Korea Composite Stock Price Index, or Kospi, rose by 48.49 points, to open at 6,739.39. The Kosdaq marginally gained to open at 1,224.75.Samsung Electronics posted first-quarter operating income of 57.2 trillion won, up 756% from 6.69 trillion won a year earlier. The South Korean chipmaker's sales jumped 69% year over year to 133.9 trillion won from 79.1 trillion won.The company said that its highest-ever quarterly revenue and operating profit were achieved via AI technology innovation and proactive market response. Favorable currency movements, particularly a stronger greenback, raised operating profit by about 1.8 trillion won on-quarter in Q1, primarily driven by the company's parts business.

South Korea's Retail Sales Rise in March

Retail sales in South Korea, a gauge of private spending, rose 1.8% in March from the previous month, after a 0.3% decline in February, according to data from Statistics Korea on Thursday.On an annual basis, retail sales increased 5% in March, following a rise of 4.3% in the preceding month.

South Korean Hits Record High as AI Optimism Overcomes OpenAI Growth Concerns

South Korean shares closed at a new high on Wednesday, with technology stocks posting strong gains as investors expected chip demand to remain robust due to the AI sector.The country's primary index, Kospi, opened lower in the day, tracking losses on Wall Street due to ChatGPT founder OpenAI missing internal revenue and user targets in the first quarter. However, local appetite for chipmakers and hardware providers quickly offset the negative sentiment surrounding U.S. software startups.The Korea Composite Stock Price Index or Kospi rose 49.88 points, or 0.8%, to end at 6,690.9. The Kosdaq also increased by 4.68 points, or 0.4%, to close at 1,220.26.In economic news, South Korea's bank deposit rates declined in March while borrowing costs also continued to decrease, the Bank of Korea said Tuesday.The average interest rate on new deposits fell one basis point to 2.82% from the previous month, while rates on outstanding deposits also shed one basis point to 2.00%.New loan rates declined six basis points from the previous month to 4.20%, and the average rate on outstanding loans was unchanged at 4.27% at the end of March.In corporate news, Hanwha Engine (KRX:082740) posted first-quarter net income attributable to shareholders of 52.9 billion won, up 172% from 19.4 billion won a year earlier, according to a Wednesday filing with the Korea Exchange.The South Korean marine engine producer's sales rose 8.5% year over year to 345.2 billion won from 318.2 billion won.Shares of Hanwha Engine added over 8% at market close.

South Korea's Deposit Rates Decline in March

South Korea's bank deposit rates declined in March while borrowing costs also continued to decrease, the Bank of Korea said Tuesday.The average interest rate on new deposits fell one basis point to 2.82% from the previous month, while rates on outstanding deposits also shed one basis point to 2%.New loan rates declined six basis points from the previous month to 4.20%, and the average rate on outstanding loans was unchanged at 4.27% at the end of March.

South Korean Shares Open Lower on AI Concerns as OpenAI Growth Falters

South Korean shares opened lower on Wednesday, tracking Wall Street, as concerns over the AI sector re-emerged after OpenAI's missed internal revenue and user targets.The benchmark Korea Composite Stock Price Index, or Kospi, fell by 22.02 points, to open at 6,619. The Kosdaq marginally gained to open at 1,213.28.OpenAi's growth potential stumbled as its chief financial officer raised concerns that the company may not be able to pay future contracts if revenue fails to increase fast enough, according to a Wall Street Journal report.The report has sent other AI stocks and tech companies' equities plummeting.Meanwhile, Israel launched fresh attacks on southern Lebanon on Tuesday despite a ceasefire, adding to the oil shock brought by the UAE's departure from the OPEC.

South Korean Shares Hit New High as Investors Eye US Q1 Tech Earnings

South Korean shares closed at a fresh new high on Tuesday, as investors looked forward to the first-quarter earnings of key US-based technology companies.The Korea Composite Stock Price Index or Kospi rose 25.99 points, or 0.4%, to end at 6,641.02. The Kosdaq decreased by 10.6 points, or 0.9%, to close at 1,215.58.In economic news, the composite business sentiment index in all industries in South Korea increased 0.8 points to 94.9 in April from 94.1 in March, while the outlook for the next month added 0.8 points to 93.9, according to data released by the Bank of Korea on Tuesday.The outlook for May marked the highest level since August 2024.Meanwhile, the economic sentiment index, a composite of the business survey and consumer survey indices, went down 2.3 points to 91.7.In corporate news, DoubleU Games (KRX:192080) will acquire all issued and outstanding American Depositary Shares (ADS) of DoubleDown Interactive at $11.25 per ADS in cash, the developer of online games and mobile games said Tuesday.The deal is valued at about $184 million. Following the transaction, DoubleDown Interactive will become a fully-owned subsidiary of DoubleU Games, according to the release.Shares of DoubleU Games jumped nearly 9% at market close.

Market Chatter: South Korea Becomes Eighth-Largest Stock Market in the World

South Korea became the eighth-largest stock market in the world after the total market capitalization of South Korean-listed companies surged over 45% in 2026 to hit $4.04 trillion, Bloomberg News reported Tuesday.South Korea surpassed the UK to take the spot, with the total market capitalization of UK-listed firms gaining about 3% to reach $3.99 trillion, the report said.The surge in Korean stock prices is a result of gains made by firms related to AI, in particular, Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660). These two firms make up for more than 40% of the total market capitalization of the country's primary index, the Korea Composite Stock Price Index, or Kospi, according to the report.The surge in Korean stock prices is similar to gains in Taiwan, which overtook the UK in April to become the world's seventh-largest equity market. Taiwan's rally was driven largely by Taiwan Semiconductor Manufacturing (TPE:2330), which makes up about 45% of its benchmark index. Taiwan's total market value has hit $4.48 trillion, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

South Korean Shares Open Higher Despite US-Iran Tensions

South Korean shares opened higher on Tuesday despite the ongoing tensions between the US and Iran.The benchmark Korea Composite Stock Price Index, or Kospi, gained 0.5%, or 31.77 points, to open at 6,646.80. The Kosdaq marginally gained to open at 1,226.76.On Monday, a US official said that US President Donald Trump is dissatisfied with Iran's proposal, as it doesn't mention Tehran's nuclear program.According to Iranian sources, the proposal will not comprise nuclear talks until the conflict ends and disputes related to Gulf shipping are resolved. At the same time, Washington insists nuclear issues must be addressed right away.