Seoul stocks sharply up late Friday morning on eased inflation woes
Financial data is displayed inside the dealing room of Hana Bank in central Seoul, Friday. Yonhap
Seoul stocks were trading sharply higher late Friday morning as investors snapped up market heavyweights amid eased inflation woes.
The benchmark Korea Composite Stock Price Index (KOSPI) was trading up 135.91 points, or 2.02 percent, to 6,851.32 as of 11:20 a.m.
Investor sentiment improved on a fall in oil prices and eased uncertainties over inflation, following the rate hike by the Federal Reserve.
Market top-cap Samsung Electronics added 2.48 percent, while rival SK hynix advanced 4.41 percent.
Carmaker Hyundai Motor rose 0.96 percent, defense giant Hanwha Aerospace strengthened 0.82 percent, and major financial firm KB Financial was down 1.95 percent.
The Korean won was trading at 1,385.4 won against the U.S. dollar as of 11:20 a.m., down 3.9 won from the close of the previous stock trading session.