SEOUL: South Korean stocks started higher on Wednesday following marked setbacks in recent days caused by worries over a rate hike in the U.S., analysts said.
The benchmark Korea Composite Stock Price Index gained 2.79 points, or 0.14 percent, to 1,999.38 in the first 15 minutes of trading.
The index bounced back from a 1.44 percent decline on Tuesday amid expectations that the Fed would raise its near-zero interest rate as early as December following recent strong labor market data.
Tech bellwether Samsung Electronics and automaking giant Hyundai Motor both started higher. Cosmetics maker AmorePacific gained over 1 percent.
Insurers, however, began downward with Samsung Life Insurance trading 2.24 percent lower.
The local currency was trading at 1,156.9 won against the U.S. dollar as of 9:15 a.m., unchanged from Tuesday’s close.
