Seoul: Seoul shares opened sharply higher Wednesday, tracking overnight gains on Wall Street, as hopes run high over a second round of peace talks between the United States and Iran. After opening 2.91 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) added 175.80 points, or 2.95 percent, to 6,143.55 in the first 15 minutes of trading.

According to Yonhap News Agency, on Tuesday, the KOSPI rose 2.74 percent to close at 5,967.75, briefly testing the 6,000-point level for the first time since March 3. This was following U.S. and Israeli air strikes on Iran on February 28. The potential for a second round of peace talks between the U.S. and Iran has bolstered investor sentiment, days after the first round of negotiations ended without an agreement.

U.S. stocks also ended higher overnight, with the Dow Jones Industrial Average rising 0.66 percent and the Nasdaq composite gaining 1.96 percent. Most large-cap stocks in Seoul advanced, with market bellwether Samsung Electronics rising 3.75 percent and chip rival SK hynix jumping 5.53 percent. Top carmaker Hyundai Motor climbed 4.78 percent, and leading shipbuilder HD Hyundai Heavy Industries gained 0.94 percent.

In the shipping and steel sectors, leading shipping firm HMM rose 0.71 percent, and leading steelmaker POSCO Holdings was up 2.77 percent. However, among decliners, Korea Aerospace Industries, the country's sole aircraft manufacturer, fell 1.55 percent, and LIG Defense and Aerospace declined 3.85 percent.

The local currency was trading at 1,473.85 won against the U.S. dollar at 9:15 a.m., up 7.35 won from the previous session's close.