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Seoul shares open nearly flat ahead of Fed's rate decision

All News 09:28 July 27, 2022

SEOUL, July 27 (Yonhap) -- South Korean stocks opened nearly flat Wednesday as investors took to the sidelines ahead of the U.S. Federal Reserve's rate-decision meeting.

The benchmark Korea Composite Stock Price Index slipped 0.81 point, or 0.03 percent, to trade at 2,412.15 points in the first 15 minutes of trading.

The U.S. Fed is set to announce the results of its two-day monetary meeting results Thursday (Korean time).

Overnight, the U.S. stock market closed lower. The Dow Jones Industrial Average fell 0.71 percent, and the tech-heavy Nasdaq Composite decreased 1.87 percent.

In Seoul, the top three market caps -- market behemoth Samsung Electronics, No. 2 chipmaker SK hynix and battery giant LG Energy Solution -- traded flat.

Leading carmaker Hyundai Motor lost 0.77 percent, while bio heavyweight Samsung Biologics advanced 1.45 percent.

The local currency was trading at 1,310.95 won against the U.S. dollar, down 3.35 won from the previous session's close.


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