Seoul shares close higher as investors search for clues about Fed's rate policy


Seoul's stock market closed higher on Friday as investors awaited the US rate decision and key data. The Korea Composite Stock Price Index increased by 0.29 percent to 2,792.08, with moderate trade volume. Foreigners and institutions purchased local shares, offsetting institutions' sell-off. The US personal consumption expenditures (PCE) price index for May was set to be released, influencing market movements. Most sectors gained ground, except for tech and auto shares, which declined. The food sector, securities, insurance, financial, and chemical shares all saw gains, while tech giant Samsung Electronics and other companies like Hyundai Motor, Kia, LG Energy Solution, and Samsung SDI experienced losses. The local currency also rose sharply against the US dollar, ending at 1,376.70 won. Overall, the stock market showed mixed movements, reflecting a wait-and-see attitude among investors in anticipation of the PCE data.


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