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![[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/09/27/20240927050701_0.jpg&u=)
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Korean shares trade higher on Fed's dovish stance
By Korea HeraldPublished : March 17, 2016 - 12:31
South Korean shares traded higher late Thursday morning on eased uncertainties surrounding the Federal Reserve's policy direction and its dovish stance, feeding investors' appetite for risky assets.
After the Fed's decision to hold interest rates unchanged this month, offshore investors are showing a revived interest in emerging market stocks. Rising oil prices and commodity prices are also fueling bets on stocks, analysts said.
Foreigners continued to buy local stocks for a sixth straight session Thursday. They bought a net 214.17 billion won as of 11:20 a.m. Institutions and individuals were net sellers of stocks worth 217.10 billion won.
Most shares rose across the board. Top performers included techs, petrochemicals, automobiles and steelmakers.
Market behemoth Samsung Electronics advanced 1.91 percent, and top automaker Hyundai Motor climbed 0.68 percent. No. 1 refiner SK Innovation jumped 3.54 percent.
The Korean currency was trading at 1,174.30 won against the U.S. dollar, sharply up 19.00 won from Wednesday's close.
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Articles by Korea Herald
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