Seoul stocks opened at a fresh record high on Thursday despite overnight Wall Street losses tied to Federal Reserve signals and Iran uncertainty. The benchmark KOSPI started at 8,884.92.
The KOSPI index opened 20.68 points, or 0.23 percent, higher at 8,884.92. This marked the continuation of a five-session winning streak.
Major U.S. indexes closed lower overnight after Fed Chair Kevin Warsh hinted at a possible rate hike this year. The two-day policy meeting ended with a fourth straight rate freeze at 3.5 percent to 3.75 percent.
The Trump administration released a memorandum of understanding with Iran, though Trump noted it was not a final deal. Kiwoom Securities analyst Han Ki-young said short-term correction pressure could arise from the rapid rise, but valuation appeal and profit momentum support the market.
