Seoul shares open sharply higher on US gains amid eased inflation woes
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. South Korean shares…
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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap) South Korean shares opened sharply higher Friday, led by gains in major chipmakers, tracking an overnight rally in US shares, as latest US data eased woes over accelerating inflation. U.S. wholesale inflation cooled in July as energy and food costs declined, which, along with last week's weaker than expected job data, will lessen pressure on the Federal Reserve to tighten policy. Overnight, the US stock market rose to an all-time high amid easing oil prices.
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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap) South Korean shares opened sharply higher Friday, led by gains in major chipmakers, tracking an overnight rally in US shares, as latest US data eased woes over accelerating inflation.
reliability moderate2/2 sourcesU.S. wholesale inflation cooled in July as energy and food costs declined, which, along with last week's weaker than expected job data, will lessen pressure on the Federal Reserve to tighten policy.
reliability moderate2/2 sourcesOvernight, the US stock market rose to an all-time high amid easing oil prices.
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