Seoul stocks open tad higher as Fed holds rates ahead of Samsung earnings report
Korean stocks opened slightly higher Thursday, buoyed by the Federal Reserve's decision to hold interest rates steady and expectations for strong third-quarter earnings from Samsung Electronics amid robust memory chip demand. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.2 points, or 0.17 percent, to 6,022.64 as of 9:15 a.m., extending its rally after surging more than 6…
The Korea Times reports that Korean stocks opened modestly higher on Thursday, supported by the Federal Reserve's decision to keep interest rates steady and anticipations of robust third-quarter earnings from Samsung Electronics. The Korea Composite Stock Price Index (KOSPI) climbed 10.2 points, or 0.17 percent, to 6,022.64 as of 9:15 a.m., continuing its upward trend following a more than 6 percent surge in the previous session.
U.S. stocks also gained overnight, with the Dow Jones Industrial Average up 0.19 percent, the S&P 500 increasing by 0.28 percent, and the tech-heavy Nasdaq rising 0.27 percent. Samsung Electronics had previously forecast third-quarter sales of 195 trillion won ($145 billion) and operating profit of 107.4 trillion won, driven by strong demand for memory chips used in artificial intelligence (AI) applications.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- Seoul stocks open tad higher as Fed holds rates ahead of Samsung earnings report koreatimes.co.kr
- Fed Chairman Kevin Warsh said higher rates are reaching the investment surge and that growth is broadening beyond it. The positions cut in opposite directions for where to set rates. wsj.com
- Seoul stocks open tad higher as Fed holds rates ahead of Samsung earnings report en.yna.co.kr
