KOSPI Extends Rally Past 6,000 as Fed Holds Rates; Oil Surge Caps Asian Upside

South Korea's KOSPI may extend its winning streak Thursday after surging 374.10 points, or 6.63%, to close at 6,012.44 on Wednesday, capping a two-session run of roughly 550 points, or 10%. The index traded between 5,745.51 and 6,032.28 on volume of 223.2 million shares worth 19.83 trillion won, with 580 gainers against 288 decliners. Technology, industrial and finance sectors led the advance. The cautiously optimistic outlook for Asian markets follows the Federal Reserve's decision to leave interest rates unchanged. Wall Street finished mildly higher: the Dow rose 0.19% to 52,475.10, the NASDAQ gained 0.27% to 26,549.85 and the S&P 500 added 0.28% to 7,743.98. Oil prices jumped on reports of possible U.S. attacks on Iran by next week, raising supply disruption concerns. West Texas Intermediate crude for December rose $3.12, or 3.12%, to $103.02 per barrel, likely limiting regional upside. CME's FedWatch Tool shows an 85.0% chance of a quarter-point hike at the Fed's December 8-9 meeting.