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Seoul shares open higher ahead of BOK's rate decision

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

South Korean stocks opened higher Wednesday ahead of the central bank's rate decision.

The benchmark Korea Composite Stock Price Index rose 7.88 points, or 0.34 percent, to trade at 2,325.64 in the first 15 minutes of trading.

The key stock index rebounded after a two-day loss since Monday, despite an overnight US stock fall.

The Bank of Korea (BOK) will announce the results of its monetary policy meeting later in the morning. Investors are wondering if the BOK will take a "big step" to combat fast-rising inflation pressure.

Market behemoth Samsung Electronics added 0.34 percent, with No. 2 chipmaker SK hynix growing 2.89 percent.

Battery giant LG Energy Solution lost 1.37 percent, while bio heavyweight Celltrion gained 1.87 percent.

The local currency was trading at 1,308.75 won against the US dollar, up 3.35 won from the previous session's close. (Yonhap)

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