South Korean stocks opened higher on Thursday, led by technology shares, despite Wall Street ending lower after the US Federal Reserve delivered its first interest rate hike in more than three years.
The Kospi rose 61.05 points or 0.91% to 6,779.02 at the open, with investors buying beaten-down technology and semiconductor stocks.
Samsung Electronics and SK hynix led the gains as investors looked past the Fed’s decision to raise its benchmark rate by 25 basis points to a range of 3.75% to 4.00%.
The rate increase, the Fed’s first since 2023, came as US policymakers seek to contain persistent inflation. The central bank has also signalled that another hike could follow before the end of 2026.
The positive start in Seoul came despite major US stock indexes closing lower overnight following the Fed decision, with higher interest rates adding pressure to equity valuations.
The move also puts the focus on the Bank of Korea, with the widening Korea-US interest rate gap expected to increase pressure on the central bank to consider another rate hike.
Inflation, household debt and elevated housing prices remain key concerns for South Korean policymakers, while the latest Fed decision could add to pressure on the won and capital flows.
