周五，韩元升值至1388韩元左右，由于美国最新通胀数据公布后，对美联储降息的押注越来越多，美元汇率有所回落。8月份CPI月环比上涨0.4%，年环比上涨2.9%，仍高于美联储2%的目标，鉴于劳动力市场疲软，投资者认为该数据足够温和，可以在9月份的会议上保持政策转变的前景。在国内，韩国总统李明博取消了修改股票投资资本利得税的计划，并警告称这一变化威胁到市场稳定。在散户投资者强烈反对之后，这一逆转缓解了政策的不确定性，提振了市场情绪。

The South Korean won appreciated to around 1,388 on Friday, as the greenback eased amid growing bets on Fed rate cuts following the latest US inflation data. With the CPI posting a 0.4% monthly increase and a 2.9% annual gain in August, still above the Fed’s 2% target, investors interpreted the data as moderate enough to keep alive prospects of a policy shift in its September meeting, given labor market weakness. Domestically, President Lee Jae Myung scrapped plans to revise the capital gains tax on stock investments, warning the change threatened market stability. The reversal, which followed backlash from retail investors, eased policy uncertainty and lifted sentiment.

基准韩国综合股价指数周五上涨0.89%，至3373点左右，连续第八个交易日上涨，科技和半导体股领涨，与华尔街隔夜上涨同步。CPI显示8月份通胀率较上月上升0.4%，同比上升2.9%，仍高于美联储2%的目标，但被视为温和到足以允许政策转变，尤其是考虑到最近劳动力市场疲软的迹象，投资者信心受到提振。在国内方面，韩国总统李明博取消了修改股票投资资本利得税的计划，称此举有可能破坏市场。降低“大股东”门槛的提议引发了散户投资者的强烈反对，其退出缓解了政策的不确定性，增加了对股市的支持。Kakao Corporation（6.51%）、SK海力士（4.40%）和三星电子（1.91%）上涨，而起亚公司（-1.03%）和现代汽车（-0.67%）下跌。

The benchmark KOSPI rose 0.89% to around 3,373 on Friday, marking its eighth straight session of gains, as technology and semiconductor stocks led the rally in step with overnight Wall Street advances. Investor confidence was buoyed after the CPI showed inflation rising 0.4% in August from the prior month and 2.9% year-over-year—still above the Fed’s 2% target but viewed as moderate enough to allow a policy shift, especially given recent signs of weakness in the labor market. On the domestic front, President Lee Jae Myung scrapped plans to revise the capital gains tax on stock investments, saying the move risked undermining the market. The proposal to lower the threshold for 'large shareholders' had sparked backlash from retail investors, and its withdrawal eased policy uncertainty, adding support to equities. Gains were seen from Kakao Corporation (6.51%), SK Hynix (4.40%), and Samsung Electronics (1.91%), while Kia Corporation (-1.03%) and Hyundai Motor (-0.67%) posted losses.

韩国总统李明博周四宣布，他不会继续修改该国的股票投资资本利得税，并承认拟议的修订有可能损害市场稳定。李表示：“如果这对股市造成损害，我认为没有必要将门槛从50亿韩元降低到10亿韩元。”他指的是“大股东”的定义。该计划引发了散户投资者的强烈反对。李表示，该决定将留给议会，议会目前正在审查该提案。执政的民主党和反对党人民力量党这两个主要政党都支持保持门槛不变。

South Korean President Lee Jae Myung announced Thursday he would not proceed with changes to the country’s capital gains tax on stock investments, acknowledging that the proposed revision risked harming market stability. “If it causes damage to the stock market, I don't think it is necessary to lower the threshold to 1 billion [won] from 5 billion,” Lee said, referring to the definition of “large shareholders” subject to the tax. The plan had triggered backlash from retail investors. Lee stated the decision would be left to parliament, which is currently reviewing the proposal. Both major parties, the ruling Democratic Party and the opposition People Power Party, support keeping the threshold unchanged.

周四，韩元兑美元汇率约为1388韩元，连续第二个交易日几乎没有变化，因为美元在美国关键通胀数据公布前保持稳定。8月份生产者价格指数低于预期，增加了人们对美联储将在9月份会议上降息的预期，市场主要定价为降息25个基点，同时仍在考虑更大幅度的降息0.5个基点。在国内，由于对半导体股票的强劲需求和外国投资者的重新购买，韩国综合股价指数继续创下历史新高。当局可能调整资本利得税规则的希望也助长了股市的乐观情绪，在风险偏好增强的背景下加强了对韩元的支持。投资者现在期待着当天晚些时候的美国消费者通胀数据，以进一步了解美联储的政策路径和美元的未来走势。

The South Korean won traded around 1,388 per dollar on Thursday, showing little change for a second straight session, as the greenback held steady ahead of key US inflation data. A weaker-than-expected reading in producer prices for August added to expectations that the Federal Reserve will lower rates at its September meeting, with markets largely pricing a 25 basis point cut while still considering a larger half-point cut. Domestically, the KOSPI continued to push into record territory, lifted by strong demand for semiconductor shares and renewed foreign buying. Hopes that authorities may adjust capital gains tax rules also contributed to the upbeat sentiment in equities, reinforcing support for the won against a backdrop of firmer risk appetite. Investors now look ahead to US consumer inflation figures later in the day for further clues on the Federal Reserve’s policy path and future moves in the dollar.