SEOUL — The Seoul stock market ended higher for the second consecutive day on Monday, buoyed by investor anticipation of a potential rate cut by the U.S. Federal Reserve in September. The upbeat market mood also lifted the Korean won against the U.S. dollar.
According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) increased by 33.63 points, or 1.23 percent, to close at 2,765.53. Trading volume was robust, with 449.64 million shares changing hands, totaling about 10.78 trillion won (US$7.8 billion). Institutional and foreign investors were net buyers, purchasing 522 billion won worth of stocks, which helped offset selling by individual investors valued at 485 billion won.
The market is keenly awaiting the outcome of the Federal Reserve’s monetary policy meeting starting Tuesday, which is expected to significantly influence global markets. Investors are also closely watching this week’s earnings reports from major technology companies, including Apple Inc., Amazon.com Inc., and Samsung Electronics Co., which could further sway market sentiment. In Seoul, notable gains were recorded in tech and auto stocks, with significant movements observed in leading companies such as Samsung Electronics and Hyundai Motor.