Kospi opens slightly higher ahead of Fed meeting

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Kospi opens slightly higher ahead of Fed meeting

Published: 11 Jun. 2024, 09:46 Updated: 11 Jun. 2024, 10:28

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,701.17 points on Monday, down 0.79 percent, or 21.50 points, from the previous trading session. [YONHAP]

Stocks opened slightly higher Tuesday, tracking overnight gains on Wall Street ahead of a U.S. Fed meeting.

The Kospi added 9.99 points, or 0.37 percent, to 2,711.16 in the first 15 minutes of trading.

The positive start follows overnight gains on Wall Street, with investors taking caution ahead of the U.S. Federal Open Market Committee meeting slated for Tuesday and Wednesday (U.S. time).

The Dow Jones Industrial Average added 0.18 percent to close at 38,868.04, with the Nasdaq gaining 0.35 percent on Monday.

In Seoul, large caps traded mixed.

Samsung Electronics shed 0.13 percent, with chipmaker SK hynix retreating 0.96 percent.

Hyundai Motor and its affiliate Kia Motors advanced 0.93 percent and 0.25 percent, respectively, while LG Energy Solution spiked 1.42 percent.

The local currency was trading at 1,376.15 won against the dollar, up 0.15 won from the previous session's close.

BY CHOI HAE-JIN, YONHAP [[email protected]]