Kospi Jumps, Following Wall Street, as Fed's Waller Signals Rate Hold

South Korea's Kospi jumped 1.14 percent at Friday's open. The rally tracked a broad Wall Street advance after Fed Governor Christopher Waller signaled a rate hold this month.

The benchmark index rose 74.88 points to 6,650. It extended a rebound after a sharp slide earlier this week tied to Middle East tensions.

Waller Comments Cool Rate Hike Worries

Waller made the remarks Thursday, saying he would be inclined to support a hold. He backed keeping rates in the current 3.5 percent to 3.75 percent range at the Fed's Sept. 15-16 meeting.

Treasury yields eased on the remarks, feeding into falling rate hike odds tracked on prediction markets this week.

Japan's Nikkei 225 and Hong Kong's Hang Seng also opened higher. South Korea's small-cap Kosdaq index advanced even more sharply.

Thursday's rally set the tone across US markets. The Dow Jones Industrial Average gained 1.18 percent. It was the index's best day since Aug. 4.

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