Seoul: Seoul shares opened higher Thursday, tracking gains on Wall Street, after the U.S. Federal Reserve held interest rates steady. The benchmark Korea Composite Stock Price Index (KOSPI) added 7.23 points, or 0.28 percent, to 2,635.85 in the first 15 minutes of trading.
According to Yonhap News Agency, overnight, U.S. stocks jumped as Fed Chair Jerome Powell signaled some confidence about the U.S. economic outlook. His remarks helped soothe concerns among investors in the face of Donald Trump's tariff war. The Dow Jones Industrial Average rose 0.92 percent, and the tech-heavy Nasdaq composite advanced 1.41 percent.
In Seoul, tech and battery stocks led gains. Market bellwether Samsung Electronics rose 0.85 percent, while No. 2 chipmaker SK hynix climbed 1.22 percent. Leading battery maker LG Energy Solution gained 0.3 percent, and No. 2 battery firm Samsung SDI was up 1.25 percent.
Among decliners, top carmaker Hyundai Motor fell 0.49 percent and its smaller affiliate Kia declined 1.54 percent. Leading shipbuilder Hyundai Heavy Industries dropped 2.41 percent, and Hanwha Ocean shed 3.62 percent.
The local currency was trading at 1,457.65 won against the greenback at 9:15 a.m., down 4.25 won from the previous session.