Seoul shares open higher tracking Wall Street gains as oil prices ease

SEOUL, Sept. 3 (Yonhap) -- Seoul shares opened higher Thursday, tracking overnight gains on Wall Street, while oil prices eased after U.S. President Donald Trump played down the prospect of a prolonged conflict with Iran.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 87.61 points, or 1.33 percent, to 6,650.33 at the opening bell.

The main index plunged 3.99 percent to 6,562.72 in the previous session amid concerns about tensions in the Middle East and the possibility of further U.S. Federal Reserve rate hikes.

Overnight, the Dow Jones Industrial Average rose 0.56 percent, while the tech-heavy Nasdaq composite gained 0.45 percent.

Trump said renewed U.S. attacks on Iran would likely be short-lived, easing concerns about inflation.