Seoul shares dip over 1% on profit hunting, caution over Fed's rate cuts
South Korean stocks slumped more than 1 percent Friday as investors locked in profits from a recent rally caused by hope for a rate cut by the Federal Reserve. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 28.38 points, or 1.03 percent, to 2,724.62, snapping a two-session winning streak. It rose 0.83 percent on the previous day. Trade volume was moderate at 561.1 million shares worth 10.3 trillion won ($7.6 billion), with losers beating winne
May 17, 2024