Shares start flat before BOK rate decision

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Shares start flat before BOK rate decision

Published: 11 Jan. 2024, 09:51

KIM JU-YEON
[email protected]

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

Shares opened flat Thursday as the country's central bank was set to hold a rate-setting meeting later in the day.

The Kospi added 1.16 points, or 0.05 percent, to 2,543.14 in the first 15 minutes of trading.

The Bank of Korea was scheduled to hold its monetary policy meeting later in the day, where it was widely expected to keep its key rate frozen for the eighth consecutive time.

Investors are also awaiting the release of the U.S. inflation data for December, which is due this week and will provide a clue for the U.S. Federal Reserve's rate policy.

Large caps traded mixed.

Samsung Electronics lost 0.82 percent, while LG Energy Solution added 1.10 percent.

Naver slipped 0.43 percent, and SK hynix lost 0.22 percent.

Hyundai Motor gained 0.32 percent, and Kia advanced 0.44 percent.

The local currency was trading at 1,319.45 won against the dollar, down 0.65 won from the previous session's close.

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