April 26, 2024
Market Now
Seoul shares open lower ahead of rate decision
[THE INVESTOR] South Korean stocks opened lower on Feb. 23 ahead of the central bank‘s rate decision in Seoul.
The benchmark KOSPI fell 1.19 points, or 0.06 percent, to 2,105.42 as of 9:15 a.m.
The broad index bucked overnight gains on Wall Street. The Dow Jones industrial average advanced 0.16 percent.
The Bank of Korea was set to decide on Feb. 23 whether to raise its interest rate, with experts forecasting a freeze.
Most large-cap stocks were mixed across the board.
Naver, the top Internet portal operator, gained 1.63 percent, and Samsung C&T, the de facto holding firm for Samsung Group, was up 0.81 percent.
Meanwhile, market bellwether Samsung Electronics fell 0.31 percent, and No. 2 chipmaker SK hynix was down 2.17 percent.
The local currency was trading at 1,140.85 won against the US dollar, up 1.75 won from the previous session’s close
