Seoul stocks open at fresh record high despite hawkish Fed, Iran uncertainty

Seoul stocks opened at a fresh record high Thursday, despite overnight losses on Wall Street caused by the US Federal Reserve's signal of a rate hike this year and uncertainty over a US-Iran peace deal. The benchmark Korea Composite Stock Price Index was up 32.74 points, or 0.37 percent, to 8,896.98, as of 9:18 a.m. Overnight, major stock indexes closed lower as Fed Chair Kevin Warsh hinted that there could be a rate hike this year to stabilize inflation, after freezing the rate for the fourth s

By The Korea Herald