Seoul shares rise for 2nd day on tech rally amid rate hike woes
Résumé détaillé
SEOUL, Nov. 11 (Yonhap) -- Seoul shares ended sharply higher for a second straig...
SEOUL, Nov. 11 (Yonhap) -- Seoul shares ended sharply higher for a second straight session Wednesday, buoyed by a rally in technology stocks amid concerns that hotter-than-expected U.S. inflation could prod the Federal Reserve to pursue an aggressive tightening mode.
After opening 0.56 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) closed up 136.23 points, or 2.6 percent, at 5,375.36 after rising as high as 5,377.99.
On Tuesday, the index advanced 4.39 percent, buoyed by a rally in U.S. technology stocks and falling oil prices.
Local stocks bucked overnight losses on Wall Street, where the Dow Jones Industrial Average fell 0.3 percent and the tech-heavy Nasdaq composite declined 0.74 percent.
U.S. consumer prices rose 0.3 percent in October from a month earlier, exceeding market expectations and fueling concerns that the Fed could pursue a more aggressive monetary tightening policy to contain inflation.
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