The KOSPI rose more than 2% in the regular session on the 14th, ending trading just short of the 7,000 level. With US inflation indicators showing some easing in inflation pressure, market attention is expected to shift to upcoming US economic data and monetary policy-related variables.

■ Intraday Breach of the 7,000 Level... Closing Price at 6,977.94

The KOSPI finished the session at 6,977.94, up 164.60 points (2.42%) from the previous trading day. Although it climbed above the 7,000 mark intraday, it ended below that level on a closing basis.

Top stocks by market capitalization were also broadly higher.

▲ Samsung Electronics up 2.43%, closing at 274,500 won ▲ SK Hynix up 3.26%, recording 1,645,000 won ▲ Samsung Electronics preferred shares up 4.15% ▲ SK Square up 3.31% ▲ Samsung Electro-Mechanics up 3.66% ▲ Hyundai Motor surging 8.24%, closing at 453,000 won ▲ LG Energy Solution up 1.09% ▲ Samsung Life Insurance up 3.26% ▲ Samsung C&T up 1.10%

In contrast, Samsung Biologics fell 1.02%, the only decliner among the top 10 stocks by market capitalization.

■ Inflation Slowdown Signals from US CPI and PPI... GDP and PCE on the 26th as the Next Watch Point

Recent US inflation indicators have served to ease some of the market's caution. According to the US Bureau of Labor Statistics, the July Producer Price Index (PPI) was unchanged from the previous month, with the year-over-year increase tallied at 4.7%. The July Consumer Price Index (CPI), released earlier, was also digested by the market as a key input for judging the inflation trend.

With CPI and PPI released in succession, market attention is focused on whether the easing trend in price pressure can be sustained going forward. However, as interpretations may vary depending on the price levels themselves and detailed sub-indicators, further data need to be confirmed.

In particular, the preliminary estimate of US second-quarter Gross Domestic Product (GDP) and the July Personal Consumption Expenditures (PCE) index are scheduled to be released on the 26th (local time). Accordingly, the direction of future US economic growth and inflation trends is expected to be a key variable for the domestic stock market as well.

■ Attention Also on Whether the 7,000 Level Can Be Secured in the Next Session

With the KOSPI having crossed the 7,000 mark intraday before closing at 6,977.94, attention is also focused on whether it can reclaim and settle above the 7,000 level in the next trading session following the weekend and the substitute holiday.