Seoul: South Korean stocks traded slightly higher late Thursday morning following the U.S. Federal Reserve's rate-freeze decision. The benchmark Korea Composite Stock Price Index (KOSPI) had risen 4.38 points, or 0.17 percent, to 2,578.18 as of 11:20 a.m.
According to Yonhap News Agency, U.S. stocks finished higher overnight as the U.S. central bank held its key rates steady, citing ongoing concerns over inflation and unemployment. In Seoul, semiconductor shares led the gains, buoyed by a U.S. news report suggesting that regulations on artificial intelligence (AI) chips might be loosened.
Chip giant Samsung Electronics saw an increase of 0.18 percent, while its rival SK hynix gained 0.73 percent. Among other significant movers, leading retailer Shinsegae rose 1.33 percent, and instant noodle maker Samyang Food experienced a 2.74 percent increase.
Conversely, top battery maker LG Energy Solution dropped 0.78 percent, and K-pop powerhouse Hybe retreated by 0.38 percent. The local currency was trading at 1,395.2 won against the U.S. dollar at 11:20 a.m., marking an increase of 2.7 won from the previous session.