Seoul bourse opens lower on pending Fed decision

By Korea Herald

Published : June 15, 2016 - 12:06

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[THE INVESTOR] South Korean shares opened lower June 15 in light of growing “Brexit” rumors and investors adopting an uncertain attitude while waiting for the decision on rates by the U.S. Federal Reserve.

The benchmark Korea Composite Stock Price Index slid down by 0.87 point, or 0.04 percent, to 1,970.16 in the first 15 minutes of trading.

As decision on the U.S rate has been inching toward finalization since June 14, investors are keen on receiving more information on the matter.

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Market top cap Samsung Electronics soared 0.94 percent, while conglomerate automaker Hyundai Motor fell 0.36 percent.

Korea Electronic Power Corp., the largest electric provider in Korea, slipped 2.35 percent on the government’s decision to provide aid to state-run power providers.

Lotte Group’s beverage manufacturing arm, Lotte Chilsung, tumbled 0.73 percent, recording a 52-week low due to the prosecutors’ widening probe into the conglomerate giant on embezzlement and slush find allegations.

The local currency was down 3.6 won from the previous session’s close, trading at 1,176 won against the dollar.

(investor@heraldcorp.com)

Korea Herald
Korea Herald
Articles by Korea Herald

Seoul bourse opens lower on pending Fed decision

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