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Seoul shares open higher after eased US inflation dataBy Yonhap
Published : May 11, 2023 - 09:43
Seoul shares opened higher Thursday as investors expect the Federal Reserve to put its rate hike march on hold following eased US consumer inflation data.
The benchmark Korea Composite Stock Price Index rose 10.36 points, or 0.4 percent, to 2,506.87 in the first 15 minutes of trading.
Individuals bought a net 22.2 billion won ($17 million) worth of stocks, offsetting institutions and foreigners' stock selling valued at 22 billion won.
In Seoul, tech, auto and airline stocks led gains.
Market bellwether Samsung Electronics Co. rose 0.3 percent, No. 2 chipmaker SK hynix Inc. climbed 0.5 percent, top carmaker Hyundai Motor Co. gained 0.5 percent, and national flag carrier Korean Air Co. was up 0.2 percent.
Among decliners, leading refiner SK Innovation Co. fell 0.3 percent, the state-run Korea Electric Power Corp. declined 0.8 percent, and Hankook Tire & Manufacturing Co. shed 0.6 percent.
The local currency was trading at 1,317.1 won against the US dollar at 9:15 a.m., up 7.7 won from the previous day's close. (Yonhap)
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