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Seoul shares open higher ahead of US inflation data, Fed meeting

By Yonhap

Published : Dec. 12, 2023 - 09:41

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

South Korean stocks opened higher Tuesday as investors awaited this week's US inflation data, as well as the Federal Reserve's rate-setting meeting.

The benchmark Korea Composite Stock Price Index added 12.57 points, or 0.5 percent, to 2,537.93 in the first 15 minutes of trading.

The United States is set to release its consumer price index Tuesday, with investors also closely eyeing the future monetary policy direction from the Federal Open Market Committee meeting.

In Seoul, tech shares traded higher, with top cap Samsung Electronics rising 0.55 percent and No. 2 chipmaker SK hynix increasing 1.78 percent.

Financial firms gained ground, with KB Financial moving up 1.36 percent and Shinhan Financial climbing 0.68 percent.

Top oil refiner SK Innovation gained 0.37 percent, and S-Oil rose 0.45 percent.

The local currency was trading at 1,316.7 won against the US dollar, down 0.2 won from the previous session's close. (Yonhap)