Stocks open higher ahead of FOMC

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Stocks open higher ahead of FOMC

Published: 12 Jun. 2023, 10:14

Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets open on Monday. [YONHAP]

Stocks opened higher Monday as investors wait on the results of the U.S. Federal Reserve's rate policy meeting later this week.

The benchmark Kospi rose 3.64 points, or 0.14 percent, to 2,644.8 in the first 15 minutes of trading.

In a meeting to be held Tuesday and Wednesday, the U.S. central bank is expected to end its hawkish approach and hold the key rates unchanged.

Seoul shares traded mixed across the board.

Samsung Electronics stayed flat, and chipmaker SK hynix fell 0.17 percent.

Hyundai Motor climbed 0.25 percent, but Kia dropped 0.6 percent.

Chemicals maker LG Chem advanced 0.66 percent, while battery manufacturer LG Energy Solution lost 0.16 percent.

The local currency was trading at 1,291.1 won against the dollar at around 9:15 a.m., down 0.4 won from the previous session's close.

BY SOHN DONG-JOO, YONHAP [sohn.dongjoo@joongang.co.kr]