Seoul stocks open cautiously ahead of U.S. Fed meeting

On Tuesday, South Korean stocks opened slightly higher as investors approached with caution ahead of the U.S. Federal Reserve's rate-setting meeting scheduled for later this week. The benchmark Korea Composite Stock Price Index (KOSPI) added 2.56 points, or 0.1 percent, to 2,577.28 in the first 15 minutes of trading.

Investors are keeping a vigilant eye on the Federal Open Market Committee (FOMC) meeting, a two-day event starting Tuesday. While the market anticipates the U.S. central bank to maintain the current rates, expectations are also high for one more rate hike this year, given the substantial economic recovery of the world's largest economy.

In the lead-up to the FOMC meeting, U.S. stocks closed with little change on Monday. The Dow Jones Industrial Average grew by 0.02 percent, Nasdaq Composite inched up by 0.01 percent, and the S&P 500 rose by 0.07 percent.

Back in Seoul, big-cap stocks traded mixed on Tuesday morning. Samsung Electronics (KS:005930), the world's leading memory chipmaker, saw a gain of 0.43 percent, while its rival SK Hynix jumped by 1.43 percent. Steel giant Posco Holdings advanced 0.17 percent and its chemical materials unit Posco Future M climbed 0.61 percent.

The automotive sector showed mixed results as well: Top carmaker Hyundai Motor (OTC:HYMTF) added 0.16 percent, but its smaller affiliate Kia dipped by 0.13 percent and its auto parts-making affiliate Hyundai Mobis dropped by 0.64 percent.

The battery shares, including LG Energy Solution and Samsung SDI, remained flat during this period while leading chemical producer LG Chem retreated more than 1.5 percent.

Amid these market movements, the local currency was trading at 1,321.30 won against the U.S. dollar at 9:15 a.m., marking an increase of 3.1 won from Monday's close.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Begin trading today! Create an account by completing our form

Privacy Notice

At One Financial Markets we are committed to safeguarding your privacy.

Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.

Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.

Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.

By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.8% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Back to top

Office network

One Financial Markets is the trading name of Axi Financial Services (UK) Ltd, a company registered in England with company number 6050593. Axi Financial Services (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201) and the Financial Sector Conduct Authority in South Africa (with FSP number 45784).

The information on this site is not directed at residents of the United States, Belgium, Poland or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

www.onefinancialmarkets.com is owned and operated by Axi Financial Services (UK) Ltd.

Award winning broker
We have been presented with a number of awards that recognise the quality of our service and dedication to our clients :

Best FSA Regulated Broker
Saudi Money Expo

Best Education Product
Saudi Money Expo

Best Broker - Online Trading
IAIR Awards

Best Institutional Broker
Saudi Money Expo

Best FX Services Broker
CN Forex

Top International
FX Broker 2015

Saudi Money Expo

Broker of the Year
Online Trading – Middle East

IAIR Awards

Best Forex
Customer Service 2018

JFEX Awards

We accept the following payment methods: