Seoul stocks open 0.1% higher despite Fed rate hike

  • Seoul stocks opened higher Thursday, led by gains in technology shares.
  • 6.49 points lifted the Korea Composite Stock Price Index 0.1% to 6,724.46.
  • The Federal Reserve delivered its first quarter-percentage-point rate increase since 2023.

Seoul stocks opened higher Thursday, with technology shares leading gains despite the Federal Reserve’s first interest-rate increase in more than three years. The benchmark Korea Composite Stock Price Index rose 6.49 points, or 0.1%, to 6,724.46 as of 9:14 a.m. The move followed declines in major Wall Street indexes overnight after the Fed raised its base rate by a quarter percentage point to a range of 3.75 to combat inflationary pressures.

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