Seoul shares open tad higher on FOMC meeting

SEOUL, July 28 (Yonhap) -- South Korean stocks opened slightly higher Thursday as the U.S. Federal Open Market Committee (FOMC) meeting results were in line with market expectations, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) added 2.29 points, or 0.11 percent, to 2,027.34 in the first 15 minutes of trading.

Tech shares were mixed, with Samsung Electronics inching down 0.20 percent and top chipmaker SK hynix remaining unchanged. LG Electronics also remained unchanged.

As widely expected, the Federal Reserve decided to leave interest rates unchanged after its two-day policy review meeting. The Fed indicated hiking interest rates sometime soon.

The local currency was trading at 1,125.80 won against the U.S. dollar as of 9:15 a.m., up 8.40 won from Wednesday's close.

khj@yna.co.kr
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