Seoul shares trading flat ahead of Fed meeting results

Published : Mar 16, 2016 - 12:04 Updated : Mar 16, 2016 - 12:53

South Korean shares ended the morning session just barely in the positive on Wednesday as investors wait for results from the two-day U.S. Federal Open Market Committee meeting that ends today.

The benchmark Korea Composite Stock Price Index gained 3.91 points, or 0.2 percent, to 1,973.88 in the first 15 minutes of trading. As of 12:04 p.m., it was trading 0.19 percent higher at 1973.67 points.

Traders monitor South Korean share prices at a local bank. (Yonhap)

Overnight, the Dow Jones industrial average ended 0.13 percent higher at 17,251.53, while the tech-heavy Nasdaq fell 0.45 percent to 4,728.67.

Analysts said it was unlikely for the FOMC not to hike rates, but that investors are eager for fresh clues on the Fed’s future monetary policies.

Techs and automobiles led gains, while shipbuilders and steelmakers were in negative terrain.

The Korean currency was trading at 1,194.05 won against the U.S. dollar, down 6.35 won from Tuesday’s close.

(khnews@heraldcorp.com)