June 15, 2021

Positive reaction in the Seoul Stock Exchange before the announcements of the Fed

Positive reaction in the Seoul Stock Exchange before the announcements of the Fed



The Stock Exchange of Seoul ended today with an advance of its main indicator, the Kospi, in the first reaction after the announcements made hours before by the Federal Reserve of the United States (Fed).

The Kospi rose to 7.78 points, down 0.36% to 2,184.88 units, while the Kosdaq technology index fell 6.24 points, down 0.83% to 743.52.

The Fed agreed on Wednesday to suspend any increase in interest rates and announced that in principle no further gradual increases are expected in the remainder of the year, in line with market expectations and demands.

The US central bank had initially considered last December that there would be two increases in interest rates throughout this year, but decided to backtrack.

In the first session after those announcements, which were expected in the global stock markets, the main figure of the Seoul stock exchange, Samsung Electronics, gained 4.09%.

For its part, the second world producer of microprocessors, SK Hynix was revalued more, 7.66%.

More inconspicuous was the advance of South Korea's first vehicle manufacturer, Hyundai, at 0.40%, while its subsidiary Kia Motors, on the other hand, lost 1.87%.

In other sectors, biochemistry LG Chem advanced 5.81%.

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