Seoul: Seoul stocks opened higher Friday, tracking overnight gains on Wall Street as investor concerns over further U.S. interest rate hikes eased following dovish remarks from a Federal Reserve official. The benchmark Korea Composite Stock Price Index (KOSPI) opened up 74.88 points, or 1.14 percent, at 6,654.36.

According to Yonhap News Agency, the overnight performance of major U.S. stock indices contributed to the positive opening of Seoul stocks. The Dow Jones Industrial Average rose 1.18 percent, while the S and P 500 gained 1.06 percent and the tech-heavy Nasdaq Composite advanced 1.4 percent.

Investor sentiment improved after Federal Reserve Governor Christopher Waller signaled a cautious approach to further monetary tightening, easing concerns that the U.S. central bank could resume rate hikes.