South Korean Shares End Little Changed
The benchmark KOSPI edged down 0.04% to close at 6,715 on Thursday, ending nearly flat from the previous session as investors weighed the Federal Reserve’s first rate hike in more than three years. The Fed raised its policy rate by 25bp to 3.75%-4.00% and signaled another increase could come later this year, limiting the index’s advance despite the move being largely priced in. Additionally, foreign investors extended their net selling streak to seven sessions. Individual stocks were mixed, with Samsung Electronics (-0.20%), SK hynix (-0.85%), SK Square (-1.32%), and LG Energy Solution (-0.86%) declining, while KB Financial Group (1.30%), Doosan Enerbility (1.91%), and Hanwha Aerospace (3.89%) gained. Meanwhile, Brent crude fell nearly 3% to around $105 a barrel as concerns over oil supply disruptions eased, helping ease some of the drag from elevated energy costs.
04% to close at 6,715 on Thursday, ending nearly flat from the previous session as investors weighed the Federal Reserve’s first rate hike in more than three years. 00% and signaled another increase could come later this year, limiting the index’s advance despite the move being largely priced in. Additionally, foreign investors extended their net selling streak to seven sessions. 89%) gained.
Meanwhile, Brent crude fell nearly 3% to around $105 a barrel as concerns over oil supply disruptions eased, helping ease some of the drag from elevated energy costs.