South Korean stocks traded slightly higher late Monday morning amid continued concerns over the U.S. Federal Reserve’s additional rate hikes.
The benchmark Korea Composite Stock Price Index (KOSPI) had risen 7.77 points, or 0.31 percent, to 2,534.48 as of 11:20 a.m.
All U.S. stock indexes finished lower Friday (U.S. time) amid woes over the Fed’s additional rate hikes.
In Seoul, big-cap shares traded mixed.
Market bellwether Samsung Electronics gained 0.14 percent, while No. 2 chipmaker SK hynix lost 0.18 percent. Leading chemical producer LG Chem went down 1.15 percent.
Market leader LG Energy Solution lost 0.89 percent, and its smaller rival Samsung SDI slid 1.15 percent.
Top automakers Hyundai Motor traded flat and Kia retreated 0.34 percent.
POSCO Holdings, the country’s top steelmaker, rose 0.12 percent, and POSCO Future M, POSCO’s industrial materials unit, surged 4.14 percent.
The local currency was trading at 1,302.3 won against the U.S. dollar at 11:20 a.m., up 2.7 won from the previous session’s close.
Source: Yonhap News Agency