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Seoul stocks open higher on Fed's reassuring comments

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Thursday. (Yonhap)
The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Thursday. (Yonhap)
South Korean stocks opened higher Thursday, tracking gains on Wall Street as investors are relieved by the US Federal Reserve's reiteration of its dovish stance.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.48 points, or 0.2 percent, to 3,271.29 points in the first 15 minutes of trading.

Stocks traded higher, taking a cue from Fed Chairman Jerome Powell's reassurance that that the time is not ripe for an early tapering of accommodative policies.

Overnight, the Dow Jones Industrial Average added 0.13 percent, and the S&P 500 advanced 0.12 percent. The tech-heavy Nasdaq Composite slipped 0.22 percent.

In Seoul, market bellwether Samsung Electronics increased 0.38 percent, while No. 2 chipmaker SK hynix shed 0.81 percent.

Internet portal operator Naver retreated 0.56 percent, and leading chemical firm LG Chem retreated 0.71 percent.

Giant pharmaceutical firm Samsung Biologics added 0.69 percent, and top automaker Hyundai Motor climbed 0.22 percent. 

The local currency was trading at 1,145.55 won against the US dollar, 2.95 from the previous session's close. (Yonhap)



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