{"id":63649,"date":"2026-06-24T01:38:18","date_gmt":"2026-06-24T05:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-kospi-surges-3-7-oil-slips-on-trump-gouging-accusations\/63649\/"},"modified":"2026-06-24T01:38:18","modified_gmt":"2026-06-24T05:38:18","slug":"global-markets-rally-as-kospi-surges-3-7-oil-slips-on-trump-gouging-accusations","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-kospi-surges-3-7-oil-slips-on-trump-gouging-accusations\/63649\/","title":{"rendered":"Global Markets Rally as KOSPI Surges 3.7%; Oil Slips on Trump &#8216;Gouging&#8217; Accusations"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>South Korea\u2019s KOSPI index surged 3.7%<\/strong>, leading a recovery in Asian equity markets as investor optimism returned following recent volatility.<\/li>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">Oil prices<\/a> extended their decline<\/strong> after U.S. President Donald Trump accused energy firms of <strong>&quot;price gouging&quot;<\/strong> and instructed the Department of Justice to investigate retail fuel costs.<\/li>\n<li><strong>HSBC (<a href=\"\/stock\/HSBC\">HSBC<\/a>) raised its valuation target for Rio Tinto (<a href=\"\/stock\/RIO\">RIO<\/a>) to 7,850p<\/strong>, citing strong volume growth and a resilient balance sheet compared to mining peers.<\/li>\n<li><strong>IAEA Director-General Rafael Grossi confirmed<\/strong> that inspections of Iranian nuclear sites &quot;are going to happen,&quot; signaling progress in the interim U.S.-Iran peace deal.<\/li>\n<li><strong>JERA is in global discussions<\/strong> to supply electricity directly to data centers, targeting the massive power demand created by <strong>AI and cloud computing infrastructure<\/strong>.<\/li>\n<\/ul>\n<p>South Korea\u2019s benchmark <strong>KOSPI<\/strong> index jumped <strong>3.7%<\/strong> on Wednesday, marking a significant rebound in the country\u2019s equity market. The rally was largely driven by a recovery in semiconductor heavyweights like Samsung Electronics and SK Hynix, as investors reacted positively to easing regional tensions and improved risk appetite.<\/p>\n<p>In the energy sector, <strong>Crude Oil<\/strong> prices continued to slip as President Donald Trump intensified pressure on &quot;Big Oil&quot; companies. Trump claimed that retail gasoline prices have failed to drop in line with falling crude costs, warning executives that pump prices &quot;better start going down a lot faster.&quot; The <strong>Department of Justice<\/strong> has reportedly been instructed to probe potential price manipulation within the industry.<\/p>\n<p>Mining giant Rio Tinto (<a href=\"\/stock\/RIO\">RIO<\/a>) received a bullish update from HSBC (<a href=\"\/stock\/HSBC\">HSBC<\/a>), which raised its price target to <strong>7,850p<\/strong> from 7,100p. Analysts noted that the company\u2019s strategic projects, such as Oyu Tolgoi and Simandou, position it to grow volumes more rapidly than competitors. The firm\u2019s low leverage was also highlighted as a key advantage for future capital investments.<\/p>\n<p>Geopolitical developments took center stage as the head of the <strong>UN nuclear watchdog<\/strong>, Rafael Grossi, stated in Tokyo that inspections of <strong>Iran&#39;s nuclear sites<\/strong> are imminent. This move is considered a &quot;key component&quot; of the interim deal aimed at ending recent hostilities. However, Iranian officials have publicly disputed the scope of these inspections, suggesting ongoing friction in the negotiation process.<\/p>\n<p>In corporate news, JERA Chairman <strong>Yukio Kani<\/strong> revealed the company is negotiating with power operators in the U.S., Europe, and Asia to support the surging energy needs of <strong>AI data centers<\/strong>. JERA is specifically exploring &quot;colocation&quot; models where power plants are built alongside data hubs to bypass grid congestion, a move that could reshape global energy infrastructure.<\/p>\n<p>Finally, a heavy schedule of <strong>Central Bank<\/strong> communications is expected today. Markets are awaiting insights from the <strong>Bank of Canada (BoC)<\/strong> minutes and speeches from officials at the <strong>ECB, BoE, and BoJ<\/strong>. These addresses are expected to provide clarity on global interest rate trajectories as inflation pressures show signs of cooling in some regions while remaining &quot;sticky&quot; in others.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways South Korea\u2019s KOSPI index surged 3.7%, leading a recovery in Asian equity markets as investor optimism returned following 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