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) was trading 96.9 points, or 1.47 percent higher, at 6,676.38, as of 9:16 a.m.

According to Yonhap News Agency, the positive momentum in the stock market came after 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 overnight. The improvement in investor sentiment was largely attributed to Federal Reserve Governor Christopher Waller's indication of a cautious approach to further monetary tightening, which alleviated fears about the U.S. central bank's potential resumption of rate hikes.

In Seoul, most major market players saw their stocks rise. Chip giant Samsung Electronics experienced a 1.8 percent increase, while its competitor SK hynix added 2.32 percent. Leading automaker Hyundai Motor saw its shares climb by 1.17 percent, battery manufacturer LG Energy Solution rose 1.92 percent, and defense company Hanwha Aerospace advanced 1.34 percent.

The Korean currency also showed strength, with the won quoted at 1,356.7 won against the U.S. dollar, marking an increase of 0.8 won from the previous stock trading session, as of 9:16 a.m.