Seoul Stocks Rise Despite Hawkish Federal Reserve Comments
South Korean equities closed higher, defying downward pressure from a Federal Reserve official’s hawkish remarks on interest rates. Market participants remained focused on strong domestic corporate earnings and stabilizing local economic data.
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Seoul shares end higher despite hawkish Fed chief
Seoul shares ended higher Monday on a rebound in tech stocks, as investors remained cautious about a possible interest rate hike following Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium. The Korean won rose against the US dollar. After opening 2.58 percent lower, the benchmark Korea Composite Stock Price Index erased its earlier losses to close up 31.14 points, or 0.46 percent, at 6,820.02. The advance bucked losses on Wall Street on Friday. The Dow Jones Industrial Ave
By The Korea Herald
Read full article →(2nd LD) Seoul shares end higher despite hawkish Fed chief
SEOUL, Aug. 31 (Yonhap) -- Seoul shares ended higher Monday on a rebound in tech...
By Choi Kyong-ae
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