SEOUL, Sept. 16 (Yonhap) -- South Korean stocks opened higher Tuesday tracking overnight gains on Wall Street amid hopes that the Federal Reserve will cut its key rates this week.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.6 points, or 0.55 percent, to 3,425.91 in the first 15 minutes of trading.
The KOSPI has rallied in recent sessions, with the index reaching a new all-time high for the fourth consecutive session Monday.
Overnight, Wall Street gathered ground on U.S. rate cut hopes, with the Dow Jones Industrial Average up 0.11 percent, the tech-heavy Nasdaq composite rising 0.94 percent and the S&P 500 adding 0.47 percent.
In particular, electric vehicle giant Tesla jumped 3.56 percent, and Alphabet, the parent company of Google, soared 4.3 percent.
Expectations for a trade deal between the United States and China also boosted investor sentiment after U.S. Treasury Secretary Scott Bessent said U.S. President Donald Trump and Chinese leader Xi Jinping would speak Friday to possibly finalize the deal.
In Seoul, chip shares continued their rally, with Samsung Electronics adding 0.78 percent and SK hynix soaring 2.27 percent.
Leading battery maker LG Energy Solution climbed 0.7 percent, and defense powerhouse Hanwha Aerospace advanced 1.42 percent.
Power plant manufacturer Doosan Enerbility escalated 3.91 percent, and internet portal operator Naver rose 0.64 percent.
Shipbuilders also started strong, with HD Hyundai Heavy up 0.5 percent, Hanwha Ocean rising 1.28 percent and HD Korea Shipbuilding gaining 1.82 percent.
But major automaker Kia lost 1.08 percent, and Kakao, the operator of the country's top mobile messenger, went down 0.94 percent.
The local currency was trading at 1,386.1 won against the U.S. dollar at 9:15 a.m., up 2.9 won from the previous session.