Seoul stocks jump 2.24% as Wall Street gains and oil prices ease

  • Seoul stocks opened sharply higher, tracking overnight gains on Wall Street.
  • 2.24% was the Korea Composite Stock Price Index's opening gain to 6,865.94.
  • Wall Street's S&P 500 gained 1.14%, while the Nasdaq rose 1.69% overnight.

Seoul stocks opened sharply higher Friday, following gains on Wall Street as falling oil prices and easing pressure in the U.S. bond market reduced inflation concerns. The benchmark Korea Composite Stock Price Index rose 150.53 points, or 2.24%, to 6,865.94 at 9:15 a.m. Overnight, the S&P 500 gained 1.14% and the tech-heavy Nasdaq rose 1.69% as investor sentiment improved. The move came as the Federal Reserve's rate hike and lower oil prices eased inflation worries.

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