Seoul stocks sharply up late Friday morning on eased inflation woes
Summary
Seoul stocks were trading sharply higher late Friday morning as investors bought market heavyweights amid eased inflation worries. The benchmark KOSPI rose 135.91 points, or 2.02 percent, to 6,851.32 as of 11:20 a.m. Sentiment improved on falling oil prices and reduced inflation uncertainty after the Federal Reserve raised rates. Samsung Electronics and SK hynix led gains, while the Korean won weakened against the U.S. dollar.
Key Facts
- The KOSPI was up 135.91 points, or 2.02 percent, at 6,851.32 as of 11:20 a.m.
- Samsung Electronics rose 2.48 percent and SK hynix gained 4.41 percent.
- Hyundai Motor added 0.96 percent and Hanwha Aerospace strengthened 0.82 percent, while KB Financial fell 1.95 percent.
- The Korean won traded at 1,385.4 won against the U.S. dollar, down 3.9 won from the previous stock trading session.
- Investor sentiment improved on a fall in oil prices and eased inflation uncertainties after the Federal Reserve rate hike.

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.
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