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THE INVESTOR] South Korean stocks turned higher late morning on Sept. 22, on US Federal Reserve’s decision to keep its key rate unchanged.
The benchmark KOSPI gained 19.19 points, or 0.94 percent, to 2,055.18 as of 11:15 a.m.
The index tracked overnight gains on Wall Street. The Dow Jones industrial average rose 0.90 percent, with the tech-heavy NASDAQ composite index climbing 1.03 percent.
The Fed on Sept. 21 maintained its target range for the federal funds rate unchanged at 0.25 percent to 0.5 percent.
Large-cap stocks climbed across the board.
Samsung Electronics gained 1.51 percent, Naver, the top internet portal operator, was up 1.64 percent and top automaker Hyundai Motor gained 0.36 percent.
The local currency was trading at 1,104.80 won against the US dollar, up 15.30 won from the previous session’s close.
(
theinvestor@heraldcorp.com)
