Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Now is no time to add pressure on businesses: top executives

    Now is no time to add pressure on businesses: top executives
  2. 2

    CJ CheilJedang to spur overseas growth with new Hungary, US plants

    CJ CheilJedang to spur overseas growth with new Hungary, US plants
  3. 3

    Seoul to host winter festival from Dec. 13

    Seoul to host winter festival from Dec. 13
  4. 4

    Nationwide rail disruptions feared as union plans strike from Dec. 5

    Nationwide rail disruptions feared as union plans strike from Dec. 5
  5. 5

    Blackpink's solo journeys: Complementary paths, not competition

    Blackpink's solo journeys: Complementary paths, not competition
  1. 6

    N. Korea, Russia court softer image: From animal diplomacy to tourism

    N. Korea, Russia court softer image: From animal diplomacy to tourism
  2. 7

    Smugglers caught disguising 230 tons of Chinese black beans as diesel exhaust fluid

    Smugglers caught disguising 230 tons of Chinese black beans as diesel exhaust fluid
  3. 8

    [Today’s K-pop] Blackpink’s Jennie, Lisa invited to Coachella as solo acts

    [Today’s K-pop] Blackpink’s Jennie, Lisa invited to Coachella as solo acts
  4. 9

    Actor Song Joong-ki welcomes second child in Rome

    Actor Song Joong-ki welcomes second child in Rome
  5. 10

    Main opposition pushes to ease, not postpone, tax on crypto gains

    Main opposition pushes to ease, not postpone, tax on crypto gains
피터빈트

Seoul shares open higher on US rate cut hopes

By Yonhap

Published : May 7, 2024 - 09:27

    • Link copied

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 shares opened higher Tuesday, tracking overnight gains on Wall Street, as investors were buoyed by looming hopes that the US Federal Reserve may slash key rates this year.

The benchmark Korea Composite Stock Price Index added 49.32 points, or 1.84 percent, to 2,725.95 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average closed 0.46 percent higher, and the tech heavy Nasdaq rose 1.19 percent. The S&P 500 gained 1.03 percent

In Seoul, top tech giant Samsung Electronics moved up 3.09 percent, and No. 2 chipmaker SK hynix climbed 4.1 percent.

Pharmaceutical firms also kicked off higher, with Samsung Biologics rising 2.2 percent and Celltrion gaining 3.49 percent.

The local currency was trading at 1,356.6 won against the US dollar, up 6.2 won from the previous session's close.

The South Korean financial market was closed the previous day, the alternative holiday for Children's Day. (Yonhap)

More from Headlines