Seoul shares open higher amid Fed's rate pause hopes
MarketsJun 5, 2023
Seoul shares opened higher Monday, tracking Wall Street gains, as investors expect the US Federal Reserve will not raise interest rates this month due to signs of US labor market slackening. The benchmark Korea Composite Stock Price Index rose 13.34 points, or 0.51 percent, to 2,614.70 in the first 15 minutes of trading. On June 2, the Dow Jones Industrial Average jumped 2.1 percent to 33,762.76, and the Nasdaq Composite gained 1 percent to 13,240.77. The May US jobs report cemented bets for the