stocks-morning Seoul shares turn higher late Mon. morning SEOUL, Aug. 28 (Yonhap) -- Seoul shares turned higher late Monday morning, as the U.S. Federal Reserve looks set to take a cautious stance in raising rates again. The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.91 points, or 0.75 percent, to 2,538.05 as of 11:20 a.m. On Friday, U.S. stocks ended higher, with the Dow Jones Industrial Average rising 0.7 percent and the tech-heavy Nasdaq Composite climbing 0.9 percent. In his speech last week in Jackson Hole, Wyoming, Fed Chair Jerome Powell said bringing inflation back to its target still has a long way to go, but he hinted rates would remain unchanged in September.

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