Investors are currently focused on the Federal Reserve’s two-day policy meeting, which begins Tuesday. Fed Chairman Jerome Powell is expected to announce his indicators for potential interest rate increases aimed at achieving the 2 percent inflation target. Speculations about keeping interest rates constant attract attention by increasing volatility in the markets.
Leading stocks on the Seoul Stock Exchange showed strong growth on Wednesday, Investing.com reported. Shares of companies such as Samsung Electronics, SK hynix and POSCO Holdings rose. At the same time, shares of other companies such as LG Energy Solution, Hyundai Motor and Samsung SDI also gained value. Technology giants Naver, Kia and Kakao also opened the day with an increase.
The positive trend was also reflected in the foreign exchange markets. South Korea’s local currency traded at 1,353.55 won against the US dollar. This financial statement reflects investors’ expectations of the Federal Reserve’s interest rate decision and its impact on global markets.