Seoul stocks open steeply lower on FOMC results, Russia-Ukraine risk
Jan 27, 2022
South Korean stocks opened steeply lower Thursday as investors digest the US central bank's policy meeting results and the rising tensions between Russia and Ukraine. The benchmark Korea Composite Stock Price Index (Kospi) retreated 26.94 points, or 0.99 percent, to 2,682.3 points as of 9:18 a.m. Stocks came off to a weak start after the US Federal Reserve chief signaled rate hikes in March. The escalating Russia-Ukraine political tensions also sapped the investor appetite for risky assets.