코스피 '비둘기' 美연준에 상승 출발…장중 2,220선 회복<br /><br />After the U.S. Federal Reserve took a dovish stance on its monetary policy, South Korea's benchmark index started strong today. <br />Hong Yoo sheds light on how the Fed holding its target interest rate steady influenced the local financial market.<br />Korea's benchmark KOSPI started Thursday's trading with an increase of 0.76 percent from the previous day, at 2-thousand-2-hundred-22-point-88. The main bourse continued to stand high through the afternoon until it edged down and closed at 2-thousand-2-hundred-4-point-85.<br />Investors and officials attributed the stable performance to the decision of the Federal Open Market Committee on Wednesday to keep key rates steady.<br />The governor of the Bank of Korea, Lee Ju-yeol, said that changes rooting from the Fed's rate meetings affect the nation's future monetary policy, as well as that of many other foreign markets. <br />He also pointed out that the Fed had said it would "best support the economy by being patient and evaluating the outlook before making any future adjustment to policy."<br />After the Fed froze its target interest rate at 2-point-2-5 to 2-and-a-half percent to evaluate the outlook before making any future adjustment to policy, Wall Street saw an increase of the Dow Jones Industrial Average, the S&P 500 and the Nasdaq overnight.<br />Stock analysists explained that the market's preference for risky assets increased as the Fed deleted the phrase "point-in-time rate increase" in the FOMC statement and after Jerome Powell also hinted at an early termination of the asset reduction.<br />Hong Yoo, Arirang News. <br />
