Seoul shares open tad higher ahead of key US data


Seoul shares opened slightly higher on Friday as investors awaited the release of the Federal Reserve's preferred measure of inflation. The Korea Composite Stock Price Index rose by 0.09 percent in the first 15 minutes of trading, adding 2.61 points to reach 2,786.67. Overnight, Wall Street closed with marginal gains, with attention turning to the release of the US personal consumption expenditures (PCE) price index for May, providing insights into the Fed's monetary policy direction. In Seoul, Samsung Electronics and SK hynix saw slight declines, while Hyundai Motor, Kia, Posco Holdings, and LG Chem also experienced decreases. On the other hand, financial shares such as KB Financial Group, Shinhan Financial Group, and Samsung Fire & Marine Insurance recorded gains. The local currency was trading at 1,385.30 won against the US dollar, marking a slight increase from the previous session's close. Seoul shares opened with a slight increase on Friday, driven by anticipation for the release of the US personal consumption expenditures (PCE) price index by the Federal Reserve. The Korea Composite Stock Price Index rose by 0.09 percent, adding 2.61 points in the first 15 minutes of trading. While some major companies such as Samsung Electronics, SK hynix, Hyundai Motor, Kia, Posco Holdings, and LG Chem saw declines, financial shares including KB Financial Group, Shinhan Financial Group, and Samsung Fire & Marine Insurance recorded gains. The local currency traded at 1,385.30 won against the US dollar, marking a slight increase from the previous session's close.


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