Stocks open higher on continued rate pause hopes

The Kospi rose 18.59 points, or 0.8 percent, to 2,468.67 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.2 percent to 33,804.87, and the Nasdaq Composite gained 0.7 percent to 13,659.68.

Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets close on Wednesday. [YONHAP]

Shares opened higher Thursday, tracking overnight gains on Wall Street, boosted by dovish comments on interest rates by U.S. Federal Reserve officials.

The Kospi rose 18.59 points, or 0.8 percent, to 2,468.67 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average rose 0.2 percent to 33,804.87, and the Nasdaq Composite gained 0.7 percent to 13,659.68.

Fed officials said the U.S. central bank doesn't need to keep tightening as rates are near their peak, and it needs to take a wait-and-see approach before raising rates further.

In Seoul, large caps were mixed across the board.

Samsung Electronics rose 1.6 percent, while SK hynix climbed 2.1 percent.

LG Energy Solution gained 1.2 percent, Korean Air 0.7 percent and Posco Holdings 2.4 percent.

Among decliners, Hyundai Motor fell 0.6 percent, and Kia dropped 1 percent.

S-Oil declined 1.5 percent and Korea Aerospace Industries shed 0.4 percent.

The local currency was trading at 1,339.75 won against the dollar at 9:15 a.m., up 1.05 won from the previous session's close.

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]