Stocks open higher before U.S. rate-setting meeting

Home > Business > Finance

Stocks open higher before U.S. rate-setting meeting

Published: 11 Dec. 2023, 09:35

KIM JU-YEON
[email protected]

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

Shares opened higher Monday before the U.S. Federal Reserve's rate-setting meeting slated for this week.

The Kospi added 8.58 points, or 0.34 percent, to 2,526.43 in the first 15 minutes of trading.

Investors are awaiting this week's Federal Open Market Committee meeting, with its key rate anticipated to remain steady between 5.25 and 5.5 percent.

In Seoul, tech shares traded higher, with LG Energy Solution adding 0.23 percent and SK hynix rising 0.94 percent.

Samsung Electronics remained unchanged from the previous session.

Naver gained 0.46 percent, and Kakao moved up 2.51 percent.

Pharmaceutical firms were also among the gainers, with Celltrion adding 4.35 percent and SK Bioscience increasing 1.29 percent.

The local currency was trading at 1,314.60 won against the dollar, up 7.8 won from the previous session's close.

BY KIM JU-YEON, YONHAP [[email protected]]