South Korean stocks had a positive day, rising for the third day in a row. This was due to the belief that the US will not increase interest rates again anytime soon. The local currency also strengthened against the US dollar. The benchmark index, called the Korea Composite Stock Price Index, increased by 1.08 percent to close at 2,368.34 points. Trading volume was moderate, with more stocks gaining value than losing value. Foreign investors sold a large amount of local shares, while individuals and institutions bought shares. The US Federal Reserve decided to keep its lending rate at a high level, which boosted global stock markets. Samsung Electronics saw its stock price decrease slightly, while SK hynix’s stock price increased. Battery makers and chemical companies experienced gains, along with cosmetics maker Amorepacific and top portal operator Naver. The local currency ended the day stronger against the US dollar.
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