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…
Korean stocks experienced a slight uptick on Thursday, with the Federal Reserve's decision to maintain interest rates steady and anticipation of strong third-quarter earnings from Samsung Electronics contributing to the positive sentiment. The Korea Composite Stock Price Index (KOSPI) rose by 10.2 points, or 0.17 percent, to 6,022.64, continuing its recent momentum which saw it surge over 6 percent the previous day.
The U.S. stock market followed suit, with major indices like the Dow Jones Industrial Average, S&P 500, and Nasdaq all posting gains. Samsung Electronics had forecasted third-quarter sales of 195 trillion won and operating profit of 107.4 trillion won, fueled by robust demand for memory chips utilized in artificial intelligence applications.
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- 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
