South Korean stocks opened higher Tuesday, tracking gains in Wall Street overnight amid speculation that the tight monetary policy by the Federal Reserve may persist for longer than expected.

The benchmark Korea Composite Stock Price Index rose 16.01 points, or 0.67 percent, to 2,418.65 in the first 15 minutes of trading.

US stocks rebounded Monday as investors hunted for bargains from last week's losses.

Data showed new orders for capital goods in the world's largest economy increased more than previously forecast in January. Pending home sales also rose last month by the most in nearly three years, pointing to a strong US economy.

In Seoul, most large-caps gained ground across the board. Tech giant Samsung Electronics rose 0.7 percent, and leading chemicals manufacturer LG Chem gained more than 1 percent.

Top carmaker Hyundai Motor advanced nearly 2 percent. Internet portal giant Naver shot up 1.2 percent.

The local currency was trading at 1,315.50 won against the US dollar as of 9:15 a.m., up 7.5 won from Monday's close. (Yonhap)