Seoul shares open higher on Fed rate pause hopes
South Korean stocks rebounded Thursday from a crash the previous day, as weaker-than-expected US jobs data raised hopes that the Federal Reserve may refrain from further rate increases.
The benchmark Korea Composite Stock Price Index added 9.08 points, or 0.38 percent, to 2,414.77 in the first 15 minutes of trading.
Overnight, US shares rebounded after a slump the previous session thanks to big tech gains, including Tesla, Alphabet, Microsoft and Amazon.
Investors hope that the Fed may not go for an additional rate hike as recent data showed that the labor market and the service sector cooled a little bit in September.
On the Seoul bourse, top-cap shares traded mixed.
Market bellwether Samsung Electronics dropped 0.74 percent, while No. 2 chipmaker SK hynix gained 2.95 percent.
Battery shares traded in positive terrain, with industry leader LG Energy Solution advancing 2.3 percent and smaller rival Samsung SDI rising 0.93 percent.
Posco shares also gained ground.
Steel giant Posco Holdings jumped 2.35 percent and its battery component-making affiliate Posco Future M added 1.64 percent.
Internet portal operator Naver rose 0.21 percent, and Kakao, the operator of the country's top mobile messenger, went up 0.96 percent.
Auto shares were mixed, with Hyundai Motor down 0.05 percent and its affiliate Kia up 0.85 percent.
The local currency was trading at 1,352.50 won against the US dollar at 9:15 a.m., up 11 won from Wednesday's close. (Yonhap)
相关推荐
- SC Bank Korea CEO nominated for fourth term
- [Hello Hangeul] Korean language instructors' working conditions remain subpar
- 김건희, 제주도서 갈치 시식하며 “수산물 소비 활성화 최선”
- TvN’s ‘Unexpected Business’ to return with season 3
- One Store attracts W20b from Krafton
- 외교부, 이스라엘 전역 여행경보 ‘특별여행주의보’ 발령
- S. Korea defeat Japan for 3rd straight men's football gold
- [New on the Scene] Kim Seong