Kospi rises as tech stocks attract investors
![A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,797.33 points on Wednesday, up 1.21 percent, or 33.41 points, from the previous trading session. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2024/06/20/cea30fc2-3865-4b4c-b872-b3c7b3b9f49b.jpg)
A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,797.33 points on Wednesday, up 1.21 percent, or 33.41 points, from the previous trading session. [YONHAP]
Shares opened higher Thursday, after a holiday in the United States, helped by tech gains amid concerns over the possible delay of a long-awaited interest rate cut by the U.S. Federal Reserve.
The Kospi rose 7.46 points, or 0.27 percent, to 2,804.79 in the first 15 minutes of trading.
U.S. stock markets were closed on Juneteenth on Wednesday (U.S. time) to commemorate the end of slavery in the U.S. The Fed recently pared back projections for rate cuts this year.
In Seoul, tech stocks were lead gainers.
Samsung Electronics rose 0.5 percent, SK hynix climbed 1.1 percent, leading refiner SK Innovation jumped 16 percent and state-run Korea Gas gained 2.9 percent.
Among decliners, Hyundai Motor fell 0.5 percent, Korean Air declined 0.5 percent and Posco Holdings shed 0.4 percent.
The local currency was trading at 1,383.50 won against the dollar, up 1.7 won from the previous session's close.
BY CHOI HAE-JIN, YONHAP [choi.haejin@joongang.co.kr]
with the Korea JoongAng Daily
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