Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Frieze Seoul sees slower sales, yet confirms stronger art scene in Seoul

    Frieze Seoul sees slower sales, yet confirms stronger art scene in Seoul
  2. 2

    3 out of 4 shops, restaurants plan to stay open during Chuseok: survey

    3 out of 4 shops, restaurants plan to stay open during Chuseok: survey
  3. 3

    Blue-skinned teen struggles with identity, alienation in 'Melanin'

    Blue-skinned teen struggles with identity, alienation in 'Melanin'
  4. 4

    LGBTQ+ dating app ad taken down 4 days later due to complaints

    LGBTQ+ dating app ad taken down 4 days later due to complaints
  5. 5

    Another victim of Japan's wartime sexual slavery dies, leaving 8 survivors

    Another victim of Japan's wartime sexual slavery dies, leaving 8 survivors
  1. 6

    North Korea floats 190 trash balloons in resumed campaign

    North Korea floats 190 trash balloons in resumed campaign
  2. 7

    [Weekender] Feeling lazy but craving tteokbokki? Try a meal kit

    [Weekender] Feeling lazy but craving tteokbokki? Try a meal kit
  3. 8

    Korea, US held simulation drills for nuclear deterrence in Washington this week: defense ministry

    Korea, US held simulation drills for nuclear deterrence in Washington this week: defense ministry
  4. 9

    Designed with cacti, floating stone, dining bar Vuur gives creative kick to local ingredients

    Designed with cacti, floating stone, dining bar Vuur gives creative kick to local ingredients
  5. 10

    [Hello India] India makes fresh overture to lure Korean financial firms

    [Hello India] India makes fresh overture to lure Korean financial firms
피터빈트

Seoul shares open higher on hope for US rate cut

By Yonhap

Published : July 29, 2024 - 09:45

    • Link copied

An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap) An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap)

Seoul shares opened higher Monday on hope for the US Federal Reserve's rate cut and earnings releases of major tech firms this week.

The benchmark Korea Composite Stock Price Index rose 27.62 points, or 1.01 percent, to 2,759.52 in the first 15 minutes of trading.

All eyes are on the US central bank's policy decision and earnings results by Apple Inc., Amazon.com Inc. and Samsung Electronics Co. The Fed is expected to cut rates as early as in September.

In Seoul, tech and auto stocks led gains.

Market behemoth Samsung Electronics Co. rose 1.1 percent, No. 2 chipmaker SK hynix Inc. climbed 0.8 percent, top carmaker Hyundai Motor Co. gained 1.6 percent, and leading auto parts maker Hyundai Mobis Co. was up 1.3 percent.

Among decliners, leading cosmetics firm Amorepacific Corp. fell 0.9 percent, LG Chem Ltd. declined 1.1 percent, and dominant tobacco company KT&G Corp. was down 0.1 percent.

The local currency was trading at 1,384.85 won against the US dollar, up 0.95 won from the previous session's close. (Yonhap)

More from Headlines