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KOSPI Plunges 22% to 7,317, Enters Bear Market; U.S. CPI on July 14 May Trigger Rebound

GateNews
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According to Newsis, South Korea's KOSPI index plunged to 7,317 on July 13 from a recent high of 9,385.59, entering technical bear market territory with a 22% drop over three weeks. The decline is particularly steep at the stock level, with 89% of KOSPI 200 components falling over 30% from their yearly highs. Market focus has turned to the U.S. June Consumer Price Index (CPI), due for release on July 14 at 9:30 p.m. Korea time. Analysts expect the CPI to come in at 3.8% year-over-year. If the figure meets or falls below expectations, concerns about Federal Reserve rate hikes may ease, potentially recovering investor appetite for risk assets. Historical data shows that when CPI disappointed expectations, KOSPI's monthly average return was 4.9% with a 72% probability of gains.
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