Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Contentious grain bill put directly to plenary meeting for vote

    Contentious grain bill put directly to plenary meeting for vote
  2. 2

    Yoon's approval rating plunges to all-time low

    Yoon's approval rating plunges to all-time low
  3. 3

    Will tug-of-war between doctors, government end soon?

    Will tug-of-war between doctors, government end soon?
  4. 4

    Climate impacts set to cut 2050 global GDP by nearly a fifth

    Climate impacts set to cut 2050 global GDP by nearly a fifth
  5. 5

    Trilateral talks acknowledge ‘serious’ slumps of won, yen

    Trilateral talks acknowledge ‘serious’ slumps of won, yen
  1. 6

    [Graphic News] More Koreans say they plan long-distance trips this year

    [Graphic News] More Koreans say they plan long-distance trips this year
  2. 7

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
  3. 8

    North Korea removes streetlights along cross-border roads with South

    North Korea removes streetlights along cross-border roads with South
  4. 9

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
  5. 10

    Farming households dip below 1m for first time in 2023

    Farming households dip below 1m for first time in 2023
피터빈트

Seoul stocks open higher amid rate hike woes

By Yonhap

Published : March 9, 2023 - 09:47

    • Link copied

An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap) An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap)

Seoul stocks opened higher Thursday amid woes over faster rate hikes by the Federal Reserve.

The benchmark Korea Composite Stock Price Index added 7.79 points, or 0.32 percent, to 2,439.7 in the first 16 minutes of trading.

After his hawkish stance a day before, Fed Chair Jerome Powell said Wednesday that no decision has been made on the pace of the Fed's rate hikes.

US stocks wavered, with Wall Street's three main stock indexes closing mixed, as traders tried to assess Powell's comments.

In Seoul, most large cap stocks were trading higher.

Market bellwether Samsung Electronics inched up 0.66 percent, and smaller rival SK hynix added 0.12 percent.

Top carmaker Hyundai Motor was up 1.77 percent, portal operator Naver gained 0.74 percent, and instant messenger app Kakao was up 1.86 percent.

Battery makers were off to a weak start. Leading battery maker LG energy Solutions declined 0.71 percent, rival Samsung SDI dipped 1.59 percent, and SK Innovation, the parent company of battery maker SK On, was down 0.35 percent.

The local currency was changing hands at 1,315.7 won against the greenback, up 5.7 won from the previous session's close. (Yonhap)

More from Headlines