Samsung's record 107 trillion won quarter lifts Seoul stocks as Fed holds rates

Samsung Electronics confirmed a record 107.44 trillion won in third-quarter operating profit on Thursday and approved a 30 trillion won cash dividend, as Seoul shares edged higher after the Federal Reserve left US interest rates unchanged.

The benchmark Korea Composite Stock Price Index added 10.2 points, or 0.17 percent, to 6,022.64 by 9:15 a.m., extending a rally that saw it gain more than 6 percent in the previous session. Samsung Electronics, the market's largest listing, rose 0.52 percent, while chipmaker SK hynix climbed 3.5 percent on demand for memory used in artificial intelligence applications.

The Federal Open Market Committee voted 10-2 to hold its benchmark rate at 3.75-4 percent, a decision that helped lift US indices overnight: the Dow Jones Industrial Average rose 0.19 percent, the S&P 500 0.28 percent and the Nasdaq 0.27 percent.

Not every Korean name shared the gains. Battery maker LG Energy Solution fell 7.3 percent and Hyundai Motor slipped 2.03 percent ahead of its own third-quarter results later in the day. The won traded at 1,345.9 to the dollar, up 1.1 won from the previous close.

Samsung's guidance earlier this month had pointed to third-quarter sales of 195 trillion won, with the profit driven by memory chip demand tied to AI.