Kospi opens higher after Fed meeting

Seoul shares opened higher Thursday, tracking gains on Wall Street, after the U.S. Federal Reserve held interest rates steady.

The Kospi added 7.23 points, or 0.28 percent, to 2,635.85 in the first 15 minutes of trading.

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.

Samsung Electronics rose 0.85 percent, while SK hynix climbed 1.22 percent.

LG Energy Solution gained 0.3 percent, and Samsung SDI was up 1.25 percent.

Among decliners, Hyundai Motor fell 0.49 percent and Kia declined 1.54 percent.

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., up 4.25 won from the previous session.

Yonhap