South Korea's financial markets are swinging on March 3 amid the U.S.-Iran war.

As risk-asset aversion grew, foreign investors dumped more than 3 trillion won worth of shares in the morning alone, and the KOSPI briefly fell below 6,000.

On the Korea Exchange, the KOSPI was trading at 6,020.10 as of 11:23 a.m., down 224.03 points, or 3.59 percent, from the previous session.

The KOSPI opened down 78.98 points, or 1.26 percent, at 6,165.15. Losses widened, and it fell as low as 5,987.15 at 11:21 a.m. before edging up slightly.

In the main board market, foreign investors were logging net sales of about 342.68 billion won, while retail investors were logging net purchases of about 344.41 billion won. Institutions were net sellers of about 95.6 billion won.

The won fell more than 25 won to the mid-1,460s per dollar.

In Seoul's foreign exchange market, the won was at 1,465.8 per dollar as of 11:26 a.m., down 26.1 won from the previous session's daytime closing level at 3:30 p.m.

It opened down 22.6 won at 1,462.3 and has been fluctuating in the 1,460 range.

On an intraday high basis, it is the highest level in about a month since Feb. 9 (1,468.3).

The rise in the day's opening level, compared with the previous session's daytime close, is the biggest in about 5 months since Oct. 10 last year (23.0 won).

Dollar strength is adding to upward pressure on the exchange rate alongside foreign stock selling.

The dollar index, which measures the U.S. currency against six major currencies, rose about 0.8 percent from the previous session to 98.562.

Bitcoin plunged through March 1 after the U.S. attack on Iran, then rebounded early on March 3, showing high volatility.

At the same time on domestic crypto exchange Upbit, the price of 1 bitcoin was 100,398,000 won, down 0.12 percent from the previous day.

On Upbit, bitcoin fell at one point to the 96 million won range after the war broke out, then climbed back to the 100 million won range on March 3.

Gold prices, seen as a representative safe-haven asset, are rising.

As of 1:30 p.m. U.S. Eastern time on March 2, gold was at $5,297.31 per ounce, up 0.4 percent from the previous session.

As of 10:51 a.m. on March 3, the domestic gold price (99.99_1kg) on the KRX Gold Market was trading at 249,900 won per gram, up 5.34 percent from the previous session.

[Yonhap News Agency]