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South Korea’s business sentiment hits 6-month low

South Korea’s business sentiment plunged to a six-month low in August, reflecting growing concerns over domestic and global economic conditions and monetary policies, as per a Bank of Korea survey. The Manufacturers’ Business Sentiment Index (BSI) for August was recorded at 67, a decline from July’s 72, marking the lowest since February’s 63. The BSI, which gauges corporate predictions for the subsequent month’s business conditions, indicates that pessimists currently outnumber optimists with a reading below 100. A sluggish recovery in the semiconductor industry and the slowing Chinese economy were significant factors in the deteriorated outlook. Notably, the BSI for September remained unchanged from its predecessor, standing at 73.

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