韩国KOSPI指数 (KOSPI) 加自选

周四，韩元兑美元汇率升至1374韩元左右，从上一交易日的下跌中恢复过来，因为投资者的注意力转向了国内货币政策的发展，这得益于美元疲软。韩国央行在7月10日的会议上决定将基准利率维持在2.50%，重申了在家庭债务上升和房价加速的担忧下采取的审慎政策立场。这些金融稳定风险促使实施了更严格的抵押贷款法规。展望未来，任何进一步政策调整的时机预计将取决于消费者需求、住房市场动态和外部发展的不断变化的趋势，包括持续的贸易紧张局势和美国的关税政策。

The South Korean won strengthened to around 1,374 per dollar on Thursday, recovering from the previous session’s losses as investor focus shifted to domestic monetary policy developments, supported by a weakening dollar. The Bank of Korea decided to maintain its benchmark interest rate at 2.50% during the July 10 meeting, reaffirming a prudent policy stance amid concerns over elevated household debt and accelerating home prices. These financial stability risks have prompted the implementation of stricter mortgage regulations. Looking ahead, the timing of any further policy adjustments is expected to be contingent upon evolving trends in consumer demand, housing market dynamics, and external developments, including ongoing trade tensions and US tariff policies.

周四，基准韩国综合股价指数上涨0.7%，至3155点左右，保持在2021年9月以来的最高水平。在对潜在的强制性股票回购政策持乐观态度的情况下，势头依然强劲，尽管全球不确定性推动了持续的外资外流，但这些政策仍继续吸引散户投资者。韩国央行在5月份降息25个基点后，将基准利率维持在2.50%，对家庭债务上升和美国关税带来的经济压力保持谨慎立场。在企业方面，英伟达飙升后，全球芯片价格上涨，以及SK海力士（1.6%）、三星电子（1.0%）和LG能源解决方案（1.6%）等其他指数权重股，进一步支撑了涨幅。

The benchmark KOSPI rose 0.7% to around 3,155 on Thursday, holding firm at its highest level since September 2021. Momentum remained strong amid optimism on potential mandatory share buyback policies, which continue to attract retail investors despite ongoing foreign outflows driven by global uncertainty. The Bank of Korea held its base rate at 2.50%, following a 25-basis-point cut in May, maintaining a cautious stance over rising household debt and economic pressure from the US tariffs. On the corporate front, gains were further supported by a global chip rally following Nvidia’s surge, together with other index heavyweights such as SK Hynix (1.6%), Samsung Electronics (1.0%), and LG Energy Solutions (1.6%).

正如普遍预期的那样，韩国央行在5月份降息25个基点后，在2025年7月的会议上将基准利率保持在2.50%不变。该决定旨在确保在美国关税、房价上涨和家庭债务不断增加的威胁下保持金融稳定。政策制定者维持了他们的通胀预测，预计今年的整体通胀率和核心通胀率均为1.9%。与此同时，6月份实际通胀率小幅上升至2.2%，仍接近英国央行2%的中期目标。预计经济增长将在一段时间内保持低迷，全球贸易谈判的不确定性增加。在5月份的会议上，韩国央行将2025年的增长预测从2月份的1.5%下调至0.8%。自去年10月以来，央行共降息100个基点以支持经济，使借贷成本降至2022年9月以来的最低水平。2025年第一季度，韩国国内生产总值环比收缩0.2%。

The Bank of Korea (BoK) kept its base rate unchanged at 2.50% during its July 2025 meeting, following a 25 bps cut in May, as widely expected. The decision aims to ensure financial stability amid the threat of US tariffs, rising house prices, and mounting household debt. Policymakers maintained their inflation forecasts, projecting both headline and core inflation at 1.9% for the year. Meanwhile, actual inflation edged up slightly to 2.2% in June, remaining close to the BoK’s medium-term target of 2%. Economic growth is expected to remain subdued for some time, with elevated uncertainty surrounding global trade negotiations. At its May meeting, the BoK revised its 2025 growth forecast down to 0.8%, from 1.5% projected in February. Since last October, the central bank has cut rates by a total of 100 bps to support the economy, bringing borrowing costs to their lowest level since September 2022. South Korea’s GDP contracted by 0.2% quarter-on-quarter in Q1 2025.

基准韩国综合股价指数周三上涨0.6%，收于3134点，延续了金融股强劲上涨的势头。受投资者对李总统提出的资本市场改革的乐观情绪推动，证券公司上涨5.9%，主要金融集团上涨1.9%。尽管外国投资者是净卖家，抛售了约3540亿韩元，但国内需求依然支撑着市场。对美国关税上调延迟的贸易希望也缓解了市场情绪。在企业方面，LG能源解决方案（0.3%）、三星生物制品（0.2%）和韩华航空航天（4.2%）领涨。

The benchmark KOSPI rose 0.6% to close at 3,134 on Wednesday, extending its upward momentum supported by strong gains in financial stocks. Securities firms jumped 5.9% and major financial groups gained 1.9%, driven by investor optimism over President Lee Jae-myung’s proposed capital market reforms. Despite foreign investors being net sellers, offloading about KRW 354 billion, domestic demand held firm supporting the market. Trade hopes over the delayed US tariff hikes also added relief to sentiment. On the corporate front, gains were led by LG Energy Solutions (0.3%), Samsung Biologics (0.2%), and Hanwha Aerospace (4.2%).