Seoul Stock Exchange Rises 0.57% After Fed Meeting

Seoul, Dec 16 (EFE) – The Seoul Stock Exchange rose today and its main indicator, the Kospi, gained 0.57% after the monthly meeting of the U.S. Federal Reserve concluded with a message in tune with the anticipated by the parquet.
The South Korean benchmark rose Thursday 17.02 points to 3.006.41 integers, while the technology index Kosdaq gained 4.34 points, or 0.43%, to 1,007.86 units.
Taking advantage of the fuel of the good closing on Wall Street on Wednesday the Kospi started in positive and remained in that territory all day, encouraged by the message issued at the end of the meeting of the Federal Open Market Committee (FOMC) of the U.S. Federal Reserve.
The monetary body said it will reduce the pace of bond purchases and said it plans three rate hikes in 2022 and possibly two more in 2023 and two more in 2024, something within that already predicted the South Korean market, which already absorbed the message in previous sessions.
The value with greater weight in the South Korean market, the technology giant Samsung Electronics, today gained 0.26% and the second largest global manufacturer of memory chips, SK Hynix, rose 0.4%.
The company that operates the most used search engine in South Korea, Naver, closed flat and the company behind South Korea’s most popular instant messaging application, Kakao, climbed 0.84%.
In the biopharmaceutical sector, Samsung Biologics advanced 5.97%, while rival Celltrion fell 0.24%.
Meanwhile, the Asian country’s largest car manufacturer, Hyundai Motor, climbed 0.24%.