Seoul shares open steeply lower amid woes over Fed's rate hikes
Apr 25, 2022
South Korean stocks opened sharply lower Monday, as investors remained wary of a possible sharp rate hike by the US Federal Reserve in next week's policy meeting. The Korea Composite Stock Price Index (Kospi) fell 1.05 percent, or 28.51 points, to trade at 2,676.20 in the first 15 minutes of trading. Investors remain cautious as the Fed has signaled a more aggressive rate raise than previously estimated to tame the worst inflation in decades, with its next policy meeting set to take place M