Kospi hits new all-time high ahead of U.S. Fed rate-setting

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Kospi hits new all-time high ahead of U.S. Fed rate-setting

This photo shows the dealing room of Hana Bank in Seoul on Jan. 23. [YONHAP]

This photo shows the dealing room of Hana Bank in Seoul on Jan. 23. [YONHAP]

 
Korean stocks broke new records on Monday, with the index setting an all-time high of 5,023.76. The news comes ahead of this week's major events, including the Federal Reserve's rate decision and he releases of fourth-quarter earnings reports from major firms, such as Samsung Electronics.
 
The Kospi was up 0.37 percent from the previous session at 5,008.53 as of 9:06 a.m. It opened 0.15 percent higher at 4,997.54.
 

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Foreign and institutional investors were selling a net 45.9 billion won ($31.7 million) and 57.7 billion won worth of shares, respectively, while individuals were buying, purchasing a net 103.1 billion won. 
 
Investors have been enjoying decent gains this year, with the Kospi widely expected to finish at above the 5,000-point threshold, aided by gains in tech companies and other major firms.
 
Top tech giant Samsung Electronics moved up 1.94 percent, while SK hynix shed 1.83 percent. Leading battery maker LG Energy Solution rose 1.46 percent.
 
Hyundai Motor moved down 0.39 percent, and its sister Kia shed 0.69 percent.
 
The local currency was trading at 1,448.5 won per U.S. dollar at 9:15 a.m., down 1.19 percent from the previous session's figure of 1,465.9.


Yonhap
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