South Korean Stocks Rise Ahead of US Inflation Data and Federal Reserve Meeting

Seoul – South Korean stocks saw an uptick in trading late Tuesday morning, with investors closely watching the upcoming U.S. inflation data and the Federal Reserve's rate-setting meeting.

As of 11:20 a.m., the Korea Composite Stock Price Index (KOSPI) had risen by 8.84 points, or 0.35 percent, reaching 2,534.20. This movement in the market reflects the anticipation and impact of key economic indicators from the United States.

Leading South Korean companies experienced varied changes in their stock prices. Samsung Electronics, the top tech giant, saw a rise of 0.41 percent, while the second-largest chipmaker SK hynix gained 1.63 percent. On the other hand, LG Energy Solution, a leading battery maker, experienced a slight decline of 0.35 percent, whereas Samsung SDI saw a modest increase of 0.11 percent.

Financial firms also traded positively, with KB Financial showing a 0.78 percent increase and Shinhan Financial up by 0.82 percent. Shipping firms joined the list of gainers, with HMM rising 2.17 percent and Hyundai Glovis moving up by 2.44 percent.

In the currency market, the local currency, the won, strengthened against the U.S. dollar, trading at 1,315.20 won, which is an increase of 1.3 won from the previous session's close.

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