South Korean KOSPI index snaps winning streak

The South Korean stock market ended a two-day winning streak on Tuesday, with the KOSPI index dropping 62.35 points, or 0.89 percent, to close at 6,941.39. The decline was driven by losses in financial shares, technology stocks, and semiconductors.

Despite the local dip, the outlook for Asian markets remains upbeat due to softening oil prices and treasury yields. This follows positive performance on Wall Street, where the Dow, NASDAQ, and S&P 500 all saw gains, with the latter two reaching record closes.

Investors are currently monitoring the release of Federal Reserve meeting minutes for insights into upcoming interest rate decisions. Additionally, U.S. economic data showed a wider-than-expected trade deficit for August, while crude oil prices saw a slight decrease as Middle East exports approach pre-war levels.