South Korea’s Kospi opened 2.54% higher on Friday, rebounding strongly after the US Federal Reserve raised interest rates and signalled further tightening.
The benchmark Kospi gained 170.29 points to 6,885.70 at the open, according to the Seoul Economic Daily.
The rally came despite Wall Street closing lower on Thursday following the Fed’s 25-basis-point rate increase to 3.75% to 4.00%, its first hike in more than three years.
The Fed also signalled that another rate increase could follow before the end of 2026 as inflation remains elevated.
Korean technology stocks helped drive the rebound, with investors looking beyond the higher US borrowing costs after the previous session’s selloff.
The Kosdaq also opened higher, gaining 0.97% to 830.18, while the South Korean won weakened 0.15% against the US dollar to 1,381.96.
The Kospi had closed at 6,717.97 on Thursday after foreign investors recorded about 12 trillion won in net selling.
Seoul Economic Daily
