Singapore, Asia Markets Shrug Off US Fed Rate Hike
5 Articles
5 Articles
Although the U.S. Federal Reserve raised its benchmark interest rate for the first time in three years, the domestic stock market perceived this as the resolution of negative factors, leading major indices such as the KOSPI to rise by over 1%. Bargain buying in semiconductor stocks and other sectors drove the rally.
Asia-Pacific stock markets rose after the Fed raised interest rates.
Asian Markets Extend Gains As Oil Eases; Nikkei, Kospi Rise Post Fed Rate Hike
The gains across Asian markets follow the Wall Street's hefty losses in the session on Wednesday, post the FOMC's decision to raise key lending rates by 0.25% for the first time since 2023 to curb inflation.
The KOSPI opened higher on the 17th, the first trading day following the U.S. Federal Reserve's decision to tighten monetary policy for the first time in three years and two months by raising the benchmark interest rate by 0.25%. The KOSPI opened at 6,779.02, up 61.05 points (0.91%) from the previous trading day, and is rising by around 1% in early trading. Samsung Electronics rose to the 2% range in early trading, while SK Hynix remained flat. …
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