韩元兑美元升值至1425元，延续了自10月24日触及的六个多月低点1440元的反弹，当时韩国出口行业在与美国达成新贸易协议的信号下前景更为乐观。美国总统特朗普在会见李总统后宣布可能与韩国达成新的贸易协议。这样的协议可能会降低自7月贸易协议以来一直存在的关税，尽管其他商品的税率从25%降至15%，但该协议仍对汽车和薯片征收25%的关税。在第三季度GDP大幅高于预期，反映出1.7%的一年高增长率后，出口前景的改善将增加韩国经济的动力。这些数据压制了人们对韩国央行在本月保持2.5%的利率后将立即重启其降息周期的押注，限制了对上次决定中温和指导所反映的宽松倾向的需求。

The South Korean won appreciated to 1,425 per USD, extending the rebound from the over six-month low of 1,440 touched on October 24th amid the stronger outlook for Korean export industries under signals of new trade deal with the US. US President Trump announced a likely new trade deal with Korea after meeting with President Lee. Such a deal may lower tariffs that stayed in place since July's trade deal, which maintained 25% levies on autos and chips despite softening rates on other goods from 25% to 15%. Improved export prospects would add to traction on the Korean economy after the third quarter GDP was sharply above expectations, reflecting a one-year high growth rate of 1.7%. The data pressed against bets that the Bank of Korea would imminently restart its cutting cycle after its hold at 2.5% this month, limiting the need for the easing bias reflected in the dovish guidance from last decision.

基准韩国综合股价指数周三上涨1.4%，至4065点左右，创下历史新高，这得益于科技股的强劲上涨和华尔街的积极情绪。SK海力士公布了创纪录的第三季度收益，营业利润超过11万亿韩元，这得益于全球对人工智能数据中心使用的高带宽内存的强劲需求。作为英伟达和其他主要芯片制造商的主要供应商，该公司的业绩突显了韩国在全球半导体供应链中的作用。一夜之间，华尔街科技股的反弹也提振了首尔科技股的情绪，SK海力士（2.8%）、三星电子（0.2%）和LG能源解决方案（1.6%）上涨。其他显著的进步来自现代汽车（2.6%）、斗山能源（8.9%）和Naver（4.2%）。投资者还在本周亚太经合组织峰会之前关注了该地区的外交发展，预计将在峰会上讨论人工智能和供应链合作。

The benchmark KOSPI climbed 1.4% to around 4,065 on Wednesday, hitting new record highs, supported by strong gains in technology shares and positive sentiment from Wall Street. SK Hynix posted record third-quarter earnings, with operating profit surpassing KRW 11 trillion, driven by robust global demand for high-bandwidth memory used in AI data centers. As a key supplier to Nvidia and other major chipmakers, the firm's results underscored South Korea’s role in the global semiconductor supply chain. Overnight, Wall Street’s rally in tech stocks also lifted sentiment across Seoul's tech sector, with gains in SK Hynix (2.8%), Samsung Electronics (0.2%), and LG Energy Solution (1.6%). Other notable advances came from Hyundai Motor (2.6%), Doosan Enerbility (8.9%), and Naver (4.2%). Investors also monitored diplomatic developments in the region ahead of the APEC Summit this week, where discussions on AI and supply chain cooperation are expected.

周三，韩元兑美元汇率跌至1433韩元左右，延续了第二个交易日的跌幅，因为投资者在庆州举行的亚太经合组织峰会上保持谨慎。当局对进展前景保持中立评估，称政府“既不乐观也不悲观”。预计讨论将集中在韩国根据7月达成的框架贸易协定所做的3500亿美元投资承诺的实施上。在特朗普访问期间达成协议降低美国对韩国商品进口关税的前景已经减弱，关于投资承诺的估值方法和融资结构的讨论陷入僵局。另外，投资者也关注美联储当天晚些时候的政策决定。市场普遍预计将降息25个基点，尽管美联储前瞻性指引的不确定性使市场在宣布之前保持谨慎。

The South Korean won weakened to around 1,433 per dollar on Wednesday, extending losses for the second session as investors remained cautious amid the APEC summit talks in Gyeongju. Authorities maintain a neutral assessment of the prospects for progress, stating that the administration is “neither optimistic nor pessimistic”. Discussions are expected to concentrate on the implementation of South Korea’s $350 billion investment pledge under the framework trade agreement reached in July. Prospects for concluding an agreement to reduce US import tariffs on South Korean goods during Trump’s visit have diminished, with discussions stalled over the valuation methodology and funding structure of the investment pledge. Separately, investors were also focused on the US Federal Reserve’s policy decision later in the day. Markets widely expect a 25-basis-point rate cut, though uncertainty over the Fed’s forward guidance has kept sentiment cautious ahead of the announcement.

韩国BOK Manufacturing BSI从之前的70降至11月的68。韩国BOK Manufacturing BSI从之前的70降至11月的68

South Korea BOK Manufacturing BSI declined to 68 in November from previous 70.South Korea BOK Manufacturing BSI declined to 68 in November from previous 70