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Seoul shares open higher ahead of BOK rate decision

Jan. 13, 2023 - 09:30 By Yonhap
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Friday. (Yonhap)

Seoul shares opened higher Friday as investors await a rate hike decision by the Bank of Korea later in the morning.

The benchmark Korea Composite Stock Price Index had added 15.47 points, or 0.65 percent, to 2,380.57 as of 9:15 a.m.

The central bank is widely expected to raise its policy rate by 25 basis points to 3.5 percent as part of efforts to tame inflation.

In Seoul, most large cap shares got off to a solid start.

Market bellwether Samsung Electronics inched up 0.33 percent, while SK hynix lost 0.58 percent.

Portal operator Naver added 2.48 percent, leading carmaker Hyundai Motor grew 1.5 percent, and bio heavyweight Samsung Biologics increased 0.62 percent.

The local currency was trading hands at 1,237.2 won against the dollar as of 9:15 a.m., up 8.6 won from the previous session's close. (Yonhap)