Most Popular
-
1
Reality show 'I Live Alone' disciplined for 'glorifying' alcohol consumption
-
2
Now is no time to add pressure on businesses: top executives
-
3
CJ CheilJedang to spur overseas growth with new Hungary, US plants
-
4
Blackpink's solo journeys: Complementary paths, not competition
-
5
Nationwide rail disruptions feared as union plans strike from Dec. 5
-
6
Nearly half of pines at Seoraksan face extinction due to global warming: study
-
7
Seoul to host winter festival from Dec. 13
-
8
N. Korea, Russia court softer image: From animal diplomacy to tourism
-
9
Porsche driver appeals six-year jail term for DUI killing teen
-
10
Smugglers caught disguising 230 tons of Chinese black beans as diesel exhaust fluid
[THE INVESTOR] South Korean stocks ended higher on Sept. 21, on the Japanese central bank’s decision to freeze its key rate. The local currency rose against the US dollar.
The benchmark KOSPI climbed 10.28 points, or 0.51 percent, to 2,035.99.
The Bank of Japan kept its key rate unchanged at minus 0.1 percent.
“The BOJ’s decision pushed up the benchmark index as investors were relieved from the bank’s decision to keep its key rate unchanged,” said Kim Ye-eun, an analyst at LIG Investment & Securities.
If the BOJ cuts the policy rate, South Korean exporters have less room in terms of prices overseas compared with their Japanese rivals. A stronger won results in a decrease in the exporters’ overseas earnings when converted into the dollar.
Lee Kyung-min, an analyst at Daishin Securities, also said the BOJ’s decision had a positive influence on the local bourse. Still, he said the market could be volatile in case the US raises its key rate this week.
Large-cap stocks were mixed across the board.
Market bellwether Samsung Electronics gained 0.44 percent to 1,592,000 won and the state-run Korea Electric Power Corp. was up 1.54 percent to 59,500 won.
Meanwhile, top automaker Hyundai Motor was down 0.36 percent to 138,000 won, and leading cosmetics maker AmorePacific lost 1.03 percent to 386,000 won.
The local currency was trading at 1,120.10 won against the US dollar, up 0.50 won from the previous session’s close.
(theinvestor@heraldcorp.com)
The benchmark KOSPI climbed 10.28 points, or 0.51 percent, to 2,035.99.
The Bank of Japan kept its key rate unchanged at minus 0.1 percent.
“The BOJ’s decision pushed up the benchmark index as investors were relieved from the bank’s decision to keep its key rate unchanged,” said Kim Ye-eun, an analyst at LIG Investment & Securities.
If the BOJ cuts the policy rate, South Korean exporters have less room in terms of prices overseas compared with their Japanese rivals. A stronger won results in a decrease in the exporters’ overseas earnings when converted into the dollar.
Lee Kyung-min, an analyst at Daishin Securities, also said the BOJ’s decision had a positive influence on the local bourse. Still, he said the market could be volatile in case the US raises its key rate this week.
Large-cap stocks were mixed across the board.
Market bellwether Samsung Electronics gained 0.44 percent to 1,592,000 won and the state-run Korea Electric Power Corp. was up 1.54 percent to 59,500 won.
Meanwhile, top automaker Hyundai Motor was down 0.36 percent to 138,000 won, and leading cosmetics maker AmorePacific lost 1.03 percent to 386,000 won.
The local currency was trading at 1,120.10 won against the US dollar, up 0.50 won from the previous session’s close.
(theinvestor@heraldcorp.com)
