▲ This photo shows the dealing room of Hana Bank in central Seoul on March 5, 2026. (Yonhap)

(LEAD) stocks-open

(LEAD) Seoul shares open sharply higher after steepest decline ever

(ATTN: UPDATES with latest figures; RECASTS headline; CHANGES photo)

SEOUL, March 5 (Yonhap) -- South Korean stocks started sharply higher Thursday after the previous session's daily record drop of over 12 percent on fears over a prolonged Iran crisis, while Wall Street rebounded and oil prices calmed.

After opening 3.09 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) rose 559.78 points, or 10.99 percent, to 5.653.32 in the first 20 minutes of trading.

The Korea Exchange (KRX), the country's main bourse operator, activated a five-minute buy-side sidecar six minutes after the opening bell, temporarily halting program-driven buy orders in KOSPI futures.

On Wednesday, the KOSPI plunged 12.06 percent to close at 5,094.54, marking the sharpest daily decline in history, as investor sentiment was dampened by fears that the Iran crisis could heavily weigh on the export-driven South Korean economy.

Overnight on Wall Street, the Dow Jones Industrial Average rose 0.49 percent and the tech-heavy Nasdaq Composite climbed 1.29 percent on eased oil price hikes.

In Seoul, market heavyweights led the rebound.

Market bellwether Samsung Electronics soared 13.59 percent, and its chipmaking rival SK hynix surged 15.19 percent.

Top carmaker Hyundai Motor skyrocketed 14.57 percent, and leading battery maker LG Energy Solution vaulted 8.78 percent.

Samsung Biologics, a leading pharmaceutical firm, rose 5.8 percent, and major banking group KB Financial Group vaulted 8.93 percent.

The Korean won was trading at 1,461.7 won against the U.S. dollar as of 9:15 a.m., up 14.5 won from the previous session.

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