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Seoul shares inch up after Fed stimulus
December 13, 2012 / 12:15 AM / 5 years ago

Seoul shares inch up after Fed stimulus

SEOUL, Dec 13 (Reuters) - South Korean shares edged up on Thursday after the U.S. Federal Reserve ramped up monetary stimulus and said it would keep benchmark interest rates near zero until the U.S. jobless rate falls sharply.

STX Pan Ocean rose more than 8 percent, adding to Wednesday’s near 15 percent gain on news that its cash-strapped parent company may sell its stake.

The Korea Composite Stock Price Index (KOSPI) was up 0.2 percent at 1,980.05 points at 0005 GMT, extending a two-month high. The index is nearing the 2,000-mark last touched in early October.

Reporting By Somang Yang; Editing by Richard Pullin

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