South Korean stocks were trading slightly higher late Thursday morning after the central bank stood pat on its key rate.
The benchmark Korea Composite Stock Price Index (KOSPI) had gained 7.94 points, or 0.31 percent, to 2,549.92 as of 11:20 a.m.
The KOSPI slightly extended gains after opening nearly flat ahead of the Bank of Korea’s rate setting meeting, which kept its policy rate frozen at 3.5 percent for the eighth consecutive time.
Investors are also awaiting the release of the U.S. consumer price index, due later this week, which will provide a clue for the Federal Reserve’s rate policy.
Large caps were mixed.
Market bellwether Samsung Electronics lost 0.41 percent, while No. 2 chipmaker SK hynix surged 1.27 percent.
Leading battery maker LG Energy Solution rose 1.34 percent, with its smaller local rival Samsung SDI adding 0.36 percent.
Top automaker Hyundai Motor and its affiliate Kia Motors increased 0.48 percent and 0.33 percent, respectively.
The local currency was trading at 1,315.00 won ag
ainst the U.S. dollar as of 11:20 a.m., up 5.10 won from the previous session’s close.
Source: Yonhap News Agency