South Korean stocks opened slightly higher Thursday, as investors digested the Federal Reserve's latest interest rate hike and corporate earnings reports.
The benchmark Korea Composite Stock Price Index added 6.39 points, or 0.25 percent, to 2,598.75 in the first 15 minutes of trading.
On Wednesday, the Fed raised interest rates by a much-anticipated quarter of a percentage point to the 5.25 percent to 5.50 percent range, the highest level in more than 22 years.
Chair Jerome Powell suggested that the US central bank "would choose to hold steady or "would raise" the rate again at the September meeting depending on data, though investors hope the July hike was the end of its aggressive monetary tightening.
US stocks closed mixed. The Dow Jones Industrial Average rose 0.23 percent, while the tech-heavy Nasdaq Composite inched down 0.12 percent.
In Seoul, top-cap shares traded mixed.
Tech giant Samsung Electronics rose 0.29 percent after reporting a 95 percent fall in the second-quarter profit. SK hynix surged 4.78 percent on bargain hunting.
Battery shares tumbled following recent rallies.
Leading battery maker LG Energy Solution fell 2.59 percent, and LG Chem shed 2.06 percent. Samsung SDI retreated 2.13 percent.
Posco shares opened sharply lower. Posco Holdings skidded 4.29 percent, and Posco Future M sank 7.5 percent.
Carmakers opened mixed, with top automaker Hyundai Motor inching up 0.25 percent and Kia losing 0.12 percent.
Among gainers, major bio firm Samsung Biologics advanced 2.2 percent, and internet giant Naver increased 1.42 percent.
The local currency was trading at 1,271.05 won against the US dollar at 9:15 a.m., up 3.45 won from the previous session's close. (Yonhap)
