SEOUL: South Korean stocks traded higher late Thursday morning as US Federal Reserve Chair Jerome Powell hinted a rate cut may happen if there are more signs that inflation is slowing.

According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index had increased 6.15 points, or 0.23 percent, to 2,647.64 as of 11:20 am.

The local currency was trading at 1,329.5 won against the US dollar, up 5 won from the previous session.

Source: Emirates News Agency