SEOUL: South Korean shares continued to climb on Tuesday on anticipation that the Federal Reserve may push back the timing of interest rate hikes based on weaker-than-expected fresh US economic data.
The benchmark Korean Composite Stock Price Index (KOSPI), which the past two sessions, was up 1.51 per cent to 2,017.34 points as of 0235 GMT. On Monday, it closed at 1,987.33 points.
The KOSPI touched it’s highest since late September in early trade.
“The chance of early rate hikes in US slightly declined as the US central bank could become more cautious about normalizing interest rates during this week’s FOMC’s meeting,”said Han Yo-seop, an analyst at KDB Daewoo Securities.
