Stocks open flat as rate hike woes continue

Home > Business > Finance

print dictionary print

Stocks open flat as rate hike woes continue

  • 기자 사진
  • KIM JU-YEON
Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets close on Friday. [YONHAP]

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

Shares opened flat Monday amid investor concerns over a continued U.S. rate hike due to high inflation.
 
The Kospi rose 6.92 points, or 0.3 percent, to 2,476.77 in the first 15 minutes of trading.
 
On Friday, the Dow Jones Industrial Average inched up 0.01 percent to 34,947.28, and the tech-heavy Nasdaq gained 0.08 percent to 14,125.48.
 
The U.S. Federal Reserve has been expected to end its hiking cycle, but San Francisco Federal Reserve President Mary Daly recently warned it is too early to end the tightening campaign.
 
Tech and energy stocks were the lead gainers.
 
SK hynix rose 1.2 percent, SK Telecom climbed 0.2 percent, LG Energy Solution gained 1.7 percent, and SK Innovation was up 1.7 percent.
 
Naver rose 0.25 percent, and Kakao rose 0.53 percent.
 
Among decliners, Hyundai Motor fell 0.7 percent, Kia dropped 0.94 percent, Korean Air declined 1.8 percent, and Amorepacific shed 0.7 percent.
 
Shares for Hyundai AutoEver, an automobile sales company under Hyundai Motor, dropped over 2 percent in the first hour of trading as the company's CEO Seo Jeong-sik faces allegations of insider trading.
 
The local currency was trading at 1,298.20 won against the dollar, up 1.3 won from the previous session's close.

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)