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THE INVESTOR] South Korean shares advanced late morning on Sept. 7, as weaker than expected economic data in the US diminished the chance of an imminent rate hike.
The benchmark KOSPI rose 6.81 points, or 0.33 percent, to 2,073.34 as of 11:20 a.m.
US stocks rose slightly on Sept. 6, with the tech-laden NASDAQ Composite reaching a record high, as latest economic data cemented views that the Fed may hold off its much-awaited decision.
Samsung Electronics rose 0.43 percent, and major chipmaker SK hynix was up 1.18 percent.
Naver, the country’s top portal operator, advanced 0.71 percent.
Hyundai Motor, the country’s top automaker, remained flat and its smaller affiliate Kia Motors rose 0.7 percent.
The South Korean won was trading at 1,094.45 won against the US greenback, up 10.75 won from the previous session’s close.
(
theinvestor@heraldcorp.com)
