SEOUL, November 11 (AJP) - Seoul shares turned higher on Wednesday after opening lower, as investors weighed concerns that stronger-than-expected U.S. inflation could lead to further interest rate hikes by the Federal Reserve.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed to 5,245.95 at around 10 a.m., while the KOSDAQ also advanced on buying in chip equipment and battery stocks.
Foreigners sold a net 88.9 billion won (US$66.4 million) of KOSPI shares, one session after their first net purchase in eight trading days. The main index in Seoul remains about 44 percent below its June intraday record of 9,385.6.
The U.S. Bureau of Labor Statistics said the previous day that consumer prices rose 0.4 percent in October, above forecasts, with core prices up 0.3 percent.
Fed Governor Christopher Waller had said before the release that a core reading at that level would justify considering a 50-basis-point hike at the Dec. 8 to 9 meeting.
The 10-year Treasury yield climbed to 5.0 percent, and the Nasdaq Composite fell 0.7 percent on Tuesday.
The main index in Seoul opened 0.6 percent lower than Tuesday's close before recovering.
Samsung Electronics rose 0.1 percent to 199,100 won ($148.79) after jumping 4.7 percent on Tuesday. SK hynix added 0.2 percent to 1,214,000 won ($907.26) after a 6.7 percent gain on Tuesday.
Battery maker Samsung SDI gained 1.5 percent to 463,000 won ($346.01).
Institutions sold a net 30.7 billion won ($22.9 million), leaving individuals as the only net buyers at 44.8 billion won ($33.5 million).
The junior KOSDAQ climbed 24.5 points to 692.1 after opening nearly flat.
Chip equipment maker Jusung Engineering jumped 9.7 percent to 167,000 won ($124.80).
Pharmacy ordering platform BaroPharm fell 18.7 percent in its KOSDAQ debut to 13,340 won ($9.97), below its offering price of 16,400 won ($12.26).
In Tokyo, the Nikkei 225 rose 0.6 percent to 60,791.7.
The Korean won traded at 1,338.1 per dollar, 6.4 won stronger than the previous session.
AJP Takeaways
- Foreign investors sold a net 88.9 billion won ($66.4 million) of South Korea's KOSPI on Nov. 11, 2026, one session after their first net purchase of KOSPI shares in eight trading days.
- South Korea's KOSDAQ jumped 3.7 percent on Nov. 11, 2026, on buying in chip equipment and battery stocks, while the KOSPI edged up 0.2 percent.
- U.S. core consumer prices rose 0.3 percent in October, a level Fed Governor Christopher Waller had said would justify considering a 50-basis-point Federal Reserve rate hike at the Dec. 8 to 9 meeting.
Copyright ⓒ Aju Press All rights reserved.
