Seoul shares open higher on continued rate-cut hopes


South Korean stocks began the week on a positive note as the Korea Composite Stock Price Index rose by 0.73 percent in the first 15 minutes of trading. This increase was attributed to ongoing optimism surrounding a potential US interest rate cut. The bullish trend was also reflected in the performance of major companies in the market, with Samsung Electronics, SK hynix, Hyundai Motor, LG Energy Solution, Posco Holdings, and CJ Cheiljedang all seeing gains. Meanwhile, on Wall Street, US stocks surged to reach a new record high, with the Dow Jones Industrial surpassing the 40,000 point mark for the first time. The local currency in Seoul, the won, was trading at 1,356.55 won against the US dollar, marking a slight decrease from the previous session's close. Overall, the positive momentum in both the South Korean and US stock markets set a promising tone for the start of the week.


Previous Post Next Post