Seoul shares opened higher on Friday related to worries aboutdeclining commodities markets after the market closed positive on Wall Street, with attention focused on interest rate decision BOK.
"The market will likely move in positive territory. Anxiety about thecommodity markets began to subside," according toWonJong-hyuck, market analyst at SK Securities. Commoditymarkets began to re-stabilized on Thursday after a week wasvolatile. Oil, copper, and corn close higher. Market pending the outcome of the meeting of the Bank of Korea, with the majority ofanalysts expect rising interest rates by 25 basis points to 3.25%."The decision does not affect the interest rate of the market. Korea iscurrently in phase of tightening. The increase in interest rates is onlya matter of time," added Won.
The KOSPI index closed down 278.90 at 2:03% menajdi Thursday.
"The market will likely move in positive territory. Anxiety about thecommodity markets began to subside," according toWonJong-hyuck, market analyst at SK Securities. Commoditymarkets began to re-stabilized on Thursday after a week wasvolatile. Oil, copper, and corn close higher. Market pending the outcome of the meeting of the Bank of Korea, with the majority ofanalysts expect rising interest rates by 25 basis points to 3.25%."The decision does not affect the interest rate of the market. Korea iscurrently in phase of tightening. The increase in interest rates is onlya matter of time," added Won.
The KOSPI index closed down 278.90 at 2:03% menajdi Thursday.
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