(LEAD) Seoul stocks open higher on eased U.S. rate-hike woes

Seoul stocks opened higher on Friday, following overnight gains on Wall Street as concerns about further U.S. interest rate hikes eased. The Korea Composite Stock Price Index (KOSPI) rose by 96.9 points, or 1.47 percent, to 6,676.38, according to Yonhap news agency. The Dow Jones Industrial Average climbed 1.18 percent, the S&P 500 gained 1.06 percent, and the tech-heavy Nasdaq Composite advanced 1.4 percent overnight.

Investor sentiment improved after Federal Reserve Governor Christopher Waller indicated a cautious approach to further monetary tightening, easing worries that the U.S. central bank might resume rate hikes. Several top-cap stocks in Seoul were trading higher. Samsung Electronics, a leading chipmaker, increased by 1.8 percent, while SK hynix added 2.32 percent.

Hyundai Motor, a major car manufacturer, saw a rise of 1.17 percent, while LG Energy Solution, a battery maker, climbed 1.92 percent. Additionally, defense giant Hanwha Aerospace rose 1.34 percent.

The Korean won strengthened against the U.S. dollar, quoted at 1,356.7 won, up 0.8 won from the previous trading session, as of 9:16 a.m.