00:02You're listening to AI Prism from Seoul Economic Daily.
00:34Iran and Saudi Arabia's oil infrastructure came under direct attack, sending Brent crude
00:39above $100 a barrel for the first time since the war began.
00:43At the same time, corporate earnings data from the Bank of Korea point to the broadest
00:47profit expansion in over a decade.
00:50Here's what the numbers show.
00:52COSPI closed at 7,051.64, up 1.40%, marking its first close above 7,033 trading days.
01:02Brent crude touched $100.02 a barrel, up 2.1% on the day, as Houthi strikes on Saudi oil
01:09facilities and U.S.-Iran naval clashes escalated in the Gulf.
01:13Goldman Sachs and Bank of America now project Brent could reach $120 to $150 a barrel if
01:20the conflict widens further.
01:22The yen fell to $152 against the dollar after Treasury Secretary Scott Besant warned currency
01:29speculators not to bet against Washington's intervention, with the comments landing a
01:33day ahead of a doubled U.S. Treasury buyback announcement.
01:36The Bank of Korea reported that non-financial corporate operating margins hit 16.9% in the
01:42second quarter, the highest since records began in 2015.
01:46Excluding Samsung Electronics and SK Hynix, that margin still stands at 6.2%.
01:53That's evidence the earnings recovery extends beyond the two-chip giants.
01:57China's total R&D spending hit $847.5 trillion won in 2024, overtaking the United States for
02:04the first time in 45 years.
02:07Former Bank of Korea Governor Lee Chang-yong warned that a cash-rich China could accelerate
02:12its chip catch-up during the next industry downturn.
02:15So what does this mean for global investors weighing Korea exposure?
02:19Earlier we said the Treasury Secretary warned yen speculators not to bet against him.
02:24Here's what that actually means for you.
02:26Expect continued yen intervention risk to keep dollar-yen volatility elevated into year-end,
02:32directly affecting one-denominated returns for foreign holders of Korean assets.
02:36KOSPI's return above 7,000 rests heavily on the semiconductor long-term supply contract
02:42thesis, not a broad re-rating of Korea's governance discount.
02:46And with Brent crude's trajectory now tied to an active shooting war,
02:50oil-driven inflation risk is back on the table for the first time in years.
02:54Here's what to watch.
02:55First, the 10-year U.S. Treasury auction results, due around 3 a.m. Korea time on September 11th,
03:02will show whether the doubled buyback calms long-end yields.
03:05Second, watch Brent crude's reaction to any further escalation between the U.S. and Iran
03:10in the Strait of Hormuz.
03:12Third, Q3 foundry market data due in October will confirm whether Samsung's share gap with TSMC
03:18keeps widening.
03:20That's today's AI Prism, Global Investors.
03:22This episode was produced with AI assistance based on Seoul Economic Daily reporting
03:27and reviewed by a human editor.
03:30AI Prism is a Juan Efra award-winning series.
03:33We'll be back tomorrow.
03:34You've been listening to AI Prism from Seoul Economic Daily.
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