In Seoul, the benchmark KOSPI gained 0.7 percent to 4,162.51 and the KOSDAQ advanced 0.3 percent to 937.79 as of 9:40 a.m.
As expected, the Federal Open Market Committee lowered the target range for the federal funds rate by 25 basis points to 3.50–3.75 percent overnight. With the December move largely priced in, investors shifted their focus to the Fed’s forward guidance and comments from Chair Jerome Powell.
Han Ji-young, an analyst at Kiwoom Securities, said the outcome was “less hawkish than the market feared.” Powell indicated that the current rate is near the upper end of the Fed’s estimate of a neutral range, a remark investors took as leaving room for further cuts.
In Seoul, Samsung Electronics rose 1.5 percent to 109,600 won ($74.6), while SK hynix edged down 0.5 percent to 584,000 won.
Other gainers included Samsung Biologics, up 1 percent to 1,681,000 won; Hyundai Motor, up 1 percent to 305,500 won; Kia, up 0.8 percent to 124,400 won; Doosan Enerbility, up 1.2 percent to 77,700 won; KB Financial, up 1.8 percent to 126,700 won; Celltrion, up 1.4 percent to 188,300 won; and Samsung C&T, up 2.6 percent to 254,000 won.
On the downside, LG Energy Solution fell 0.4 percent to 439,750 won, HD Hyundai Heavy Industries slipped 0.5 percent to 568,000 won, and Hanwha Aerospace declined 1.3 percent to 911,000 won.
The KOSDAQ index advanced, but its three largest constituents by market capitalization all declined.
Altigen, the largest, fell 0.7 percent to 453,500 won; EcoProBM, the second largest, dropped 1.8 percent to 176,200 won; and ABL Bio, the third largest, slipped 0.5 percent to 202,000 won.
In Tokyo, the Nikkei 225 inched up 0.1 percent to 50,645.57.
Among major stocks by market capitalization, Toyota, the largest, rose 0.6 percent to 3,134 yen ($20). Mitsubishi UFJ Financial Group, the second largest, added 0.2 percent to 2,473.5 yen; Hitachi, the fifth largest, rose 0.2 percent to 4,897 yen; Sumitomo Mitsui Financial Group, the sixth largest, gained 0.8 percent to 4,898 yen; Fast Retailing, the parent company of Uniqlo and the seventh largest, was up 0.3 percent to 56,260 yen; Advantest, the eighth largest, climbed 3.9 percent to 20,935 yen; and Itochu, the tenth largest, advanced 1.4 percent to 9,669 yen.
Sony Group, the third largest, slipped 0.5 percent to 4,161 yen. SoftBank Group, the fourth largest, dropped 5.1 percent to 17,710 yen, while Tokyo Electron, the ninth largest, fell 1 percent to 32,800 yen.
China’s Shanghai Composite Index inched down 0.02 percent, or 0.67 points, to 3,899.83.
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