SEOUL — South Korean stocks closed lower on Thursday as investors awaited the release of crucial U.S. inflation data expected later in the week, amidst statements from Federal Reserve officials suggesting a cautious approach to rate cuts.
According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) saw a decrease of 9.29 points, ending the day at 2,745.82, reflecting minor corrections after its March upward trend. Market watchers were particularly attentive to Fed Governor Christopher Waller's remarks, indicating a near-term rate cut by the Federal Reserve as unlikely, ahead of the U.S. core personal consumption expenditures price index data release. Notably, major companies like SK hynix and LG Energy Solution experienced declines, while Samsung Electronics and Hanmi Semiconductor recorded gains, the latter spurred by potential supply deal talks with Micron.