Kospi jumps 1.27% ahead of U.S. January inflation report
![Screen in Hana Bank's trading room in central Seoul shows stock markets open on Tuesday. [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2024/02/13/2cd08220-a94c-4aed-ad3f-b22b474b2be2.jpg)
Screen in Hana Bank's trading room in central Seoul shows stock markets open on Tuesday. [NEWS1]
Shares opened higher Tuesday as investors are expecting the U.S. Federal Reserve to start easing rates this year as inflation continues to slow.
The Kospi rose 33.23 points, or 1.27 percent, to 2,653.55 in the first 15 minutes of trading.
The U.S. is set to release January's inflation data later in the day.
The U.S. consumer price index is expected to reflect decelerating inflation, which would allow the U.S. central bank to start cutting rates this year.
In Seoul, most large-cap stocks advanced.
Samsung Electronics rose 1.2 percent and SK hynix jumped 3.9 percent.
Hyundai Motor gained 3.8 percent and Korean Air was up 1.1 percent.
Among decliners, Posco Holdings fell 2.3 percent and LG Energy Solution declined 0.1 percent. E-Mart shed 1.9 percent.
The local currency was trading at 1,328.90 won against the U.S. dollar, up 0.7 won from the previous session's close.
BY YONHAP, LEE SOO-JUNG [lee.soojung1@joongang.co.kr]
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)