Seoul shares open higher ahead of Fed rate decision
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap)
Seoul shares started higher Wednesday as investors were paying attention to the results of the Federal Reserve's rate decision meeting.
The benchmark Korea Composite Stock Price Index (Kospi) added 16.43 points, or 0.67 percent, to 2,473.24 in the first 15 minutes of trading.
Overnight, Wall Street closed lower as investors awaited the Fed's rate decision. The US central bank is widely expected to make its third consecutive rate cut on Wednesday.
In Seoul, most big-cap shares gained ground.
Tech behemoth Samsung Electronics rose 0.55 percent, while its chipmaking rival SK hynix lost 0.92 percent.
Leading battery maker LG Energy Solution increased 0.52 percent and top automaker Hyundai Motor jumped 2.18 percent.
Major shipbuilder HD Hyundai Heavy soared 3.55 percent and biopharmaceutical firm Celltrion advanced 1.29 percent.
The local currency was trading at 1,438.30 won against the US dollar at 9:15 a.m., up 0.6 won from the previous session. (Yonhap)
