(LEAD) Seoul stocks down for 3rd day on hawkish Fed, BOK’s rate hike

lead seoul stocks down for 3rd day on hawkish fed boks rate hike

Sumary of (LEAD) Seoul stocks down for 3rd day on hawkish Fed, BOK’s rate hike:

  • “Macro events such as the FOMC minutes hinting hawkish content and the BOK’s decision to raise the rate act as downward pressure to the market,” Kiwoom Securities analyst Kim Sae-hun said.
  • In contrast, internet portal operator Naver went up 0.51 percent to 397,000 won, and Kakao, the operator of the country’s most-used messenger, jumped 2.81 percent to 128,000 won.
  • Kakao Bank went up 4.95 percent to 67,900 won, and leading payment service provider Kakao Pay skyrocketed 18.31 percent to a record high of 216,500 won.

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