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Stocks open higher on eased Fed rate hike woes

All Headlines 09:19 September 08, 2016

SEOUL, Sept. 8 (Yonhap) -- South Korean stocks opened higher on Thursday on speculation that an interest rate hike in the U.S. may be delayed.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.4 points, or 0.36 percent, to 2,069.28 in the first 15 minutes of trading.

U.S. stocks closed mixed on Wednesday, with the tech-laden Nasdaq Composite reaching a new record high, while the Dow Jones industrial average edged down.

Most large caps traded mixed with market kingpin Samsung Electronics rising 0.49 percent.

Top automaker Hyundai Motor shed 0.36 percent, and top steelmaker POSCO gained 1.68 percent.

Naver, the operator of the country's top internet portal, remained flat.

The local currency was trading at 1,091.30 won against the U.S. dollar, down 1.3 won from the previous session's close.


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