周四，韩元兑美元汇率跌至1383韩元左右，抹去了早些时候的涨幅，因为美联储政策会议结束后，市场恢复了谨慎。美联储将基准利率下调至4.00-4.25%，这是自去年12月以来的首次下调，并表示今年将再降息两次。虽然此举最初削弱了美元并提振了亚洲货币，但主席杰罗姆·鲍威尔对“具有挑战性”的前景的警告缓和了市场情绪。由于美韩利率差距仍为1.75个百分点，韩元仍面临下行压力，这加大了资本外流的风险。增加压力的是，韩国央行会议纪要显示，大多数董事会成员支持进一步降息以应对美国关税逆风，尽管债务风险限制了行动。董事会以6比1的投票结果将利率维持在2.50%，但其倾向于宽松政策的倾向增强了人们对未来宽松政策的预期。

The South Korean won slipped to around 1,383 per dollar on Thursday, erasing earlier gains as caution returned following the conclusion of the Federal Reserve’s policy meeting. The Fed cut its benchmark rate to 4.00–4.25%, its first reduction since December, and signaled two more cuts this year. While the move initially weakened the dollar and boosted Asian currencies, Chair Jerome Powell’s warning of a “challenging” outlook tempered sentiment. With the US–South Korea rate gap still at 1.75 percentage points, downside pressure on the won remains, heightening the risk of capital outflows. Adding to the pressure, minutes from the Bank of Korea’s meeting showed most board members backing further rate cuts to counter US tariff headwinds, though debt risks limited action. The board voted 6–1 to hold rates at 2.50%, but its lean toward looser policy reinforced expectations for easing ahead.

周四，基准韩国综合股价指数上涨0.7%，至3438点左右，收复了前一交易日的跌幅，此前美联储公布了普遍预期的25个基点的降息，为全球股市奠定了支撑基调。该决定旨在缓冲劳动力市场疲软以及政治和经济压力对经济的影响，而鲍威尔主席指出，未来的政策措施仍将取决于数据。在国内，重量级芯片制造商提供了强劲的势头，SK海力士上涨4.7%，三星电子上涨1.9%，对人工智能驱动的需求持乐观态度。其他大型股涨跌互现，汽车和电池板块小幅上涨，被韩华航空航天和KB Financial的亏损所抵消。与此同时，首尔的政策制定者重申，全球市场的波动不太可能对韩国经济产生持久影响，并补充说，国内金融状况保持稳定。

The benchmark KOSPI rose 0.7% to around 3,438 on Thursday, recovering losses from the previous session, after the US Federal Reserve delivered a widely expected 25 basis point rate cut, setting a supportive tone for global equities. The decision was framed as cushioning the economy from a weakening labor market and political and economic pressures, while Chair Powell noted that future policy steps would remain data-dependent. Domestically, heavyweight chipmakers provided strong momentum, with SK Hynix climbing 4.7% and Samsung Electronics advancing 1.9% amid optimism over AI-driven demand. Other large caps were mixed, with modest gains in autos and batteries offset by losses in Hanwha Aerospace and KB Financial. Meanwhile, policymakers in Seoul reiterated that volatility in global markets was unlikely to have a lasting impact on the Korean economy, adding that domestic financial conditions remain stable.

周三，韩元兑美元汇率升至1380美元左右，为约一个月来的最高水平，原因是美元在美联储为期两天的会议结束时作出政策决定之前下跌。虽然25个基点的降息已完全消化，但投资者的注意力已转向美联储的前瞻性指引及其宽松周期的步伐。在国内方面，韩元受到强劲贸易数据的支撑，韩国8月汽车出口增长8.6%，达到55亿美元，创下本月新高，尽管美国征收关税，但欧洲电动汽车需求强劲。出口量增长5.5%，达到200317台，而1月至8月的累计出货量达到创纪录的477亿美元。

The South Korean won rose at around 1,380 per dollar on Wednesday, the highest level in about a month as the dollar retreated ahead of the Federal Reserve’s policy decision at the conclusion of its two-day meeting. While a 25-basis-point rate cut is fully priced in, investor attention has shifted to the Fed’s forward guidance and the pace of its easing cycle. On the domestic front, the won drew support from strong trade data as South Korea’s auto exports jumped 8.6% in August to $5.5 billion, a record for the month, driven by robust EV demand in Europe despite US tariffs. Export volumes rose 5.5% to 200,317 units, while cumulative shipments from January to August hit a record $47.7 billion.

基准韩国综合股价指数周三下跌1.1%，至3410点左右，从前一交易日的历史高点回落，追随华尔街隔夜的下跌，因为投资者在美联储的政策决定之前变得谨慎。美联储开始为期两天的会议后，标准普尔500指数、纳斯达克指数和道琼斯指数在震荡中下跌，市场普遍预计将降息25个基点以应对劳动力市场的恶化。尽管如此，8月份美国零售销售强于预期，加剧了人们的担忧，即鲍威尔主席可能会采取更谨慎的语气，缓和全球风险偏好，并拖累亚洲股市。在国内，韩国综合股价指数的回落也归因于在连续创下历史新高后的获利回吐。重量级芯片制造商三星电子（-2%）和SK海力士（-3.5%）领跌，而韩华航空航天（-0.8%）和斗山能源（-3.2%）等其他大盘股也下跌，外国投资者在当地市场成为净卖家。

The benchmark KOSPI fell 1.1% to around 3,410 on Wednesday, retreating from record highs in the previous session, tracking overnight losses on Wall Street as investors turned cautious ahead of the Federal Reserve’s policy decision. The S&P 500, Nasdaq, and Dow slipped in choppy trade after the Fed began its two-day meeting, with markets largely expecting a 25 basis point cut to counter a deteriorating labor market. Still, stronger-than-expected US retail sales in August added to concerns that Chair Powell could strike a more measured tone, tempering global risk appetite and weighing on Asian equities. Domestically, the KOSPI’s retreat was also attributed to profit-taking after straight sessions of record highs. Losses in heavyweight chipmakers Samsung Electronics (-2%) and SK Hynix (-3.5%) led the decline, while other large caps such as Hanwha Aerospace (-0.8%) and Doosan Enerbility (-3.2%) also moved lower, with foreign investors turning net sellers in the local market.