South Korean stocks surged over 1 percent on Thursday, reaching the highest level so far this year, driven by optimism around a potential U.S. interest rate cut and anticipation for Samsung Electronics' forthcoming earnings guidance. The benchmark Korea Composite Stock Price Index rose by 30.93 points to close at 2,824.94, marking its highest level since January 21, 2022. Trade volume was relatively low, with gainers outnumbering decliners. In the U.S., the stock market rallied on expectations of a dovish move by the Federal Reserve following soft labor data and strong performance from tech shares. In Seoul, Samsung Electronics led the market upswing, with its second-quarter earnings guidance, expected to show a consecutive quarterly operating profit, set to be released on Friday. However, SK hynix, Samsung's rival, experienced a decline. Additionally, battery and bank shares saw positive movements, while entertainment companies had mixed results. The local currency also strengthened against the U.S. dollar. Overall, South Korean stocks saw significant gains, buoyed by positive market sentiment and key company developments, while the local currency also exhibited strength against the U.S. dollar.