Seoul shares open sharply higher on US-Iran hope, Samsung wage deal

South Korean stocks opened markedly higher Thursday on rising hopes for a possible peace deal between the United States and Iran, and an end to labor unrest at Samsung Electronics, triggering a buy-side sidecar.

After starting 3.85 percent higher, the benchmark Korea Composite Stock Price Index rose 277.42 points, or 5.27 percent, to 7,388.52 as of 9:30 a.m. As stocks extended gains, a buy-side order in the Kospi futures was suspended for five minutes at around 9:23 a.m., according to the Korea