South Korean shares opened sharply higher on March 18, with both the KOSPI and KOSDAQ rising strongly on the back of semiconductor strength. The KOSPI rose more than 2 percent from the previous session to move above 5,790.

As of 9:19 a.m., the KOSPI was up 152.18 points, or 2.70 percent, at 5,792.66 from the previous close of 5,640.48. The index opened up 126.62 points, or 2.24 percent, at 5,767.10 and held firm early on.

By investor type, foreigners and institutions were net buyers of 148.9 billion won and 359.6 billion won, respectively, driving the index higher. Individuals, meanwhile, were net sellers of 469.3 billion won.

Most of the top stocks by market capitalisation were higher.

Market bellwether Samsung Electronics was trading at 201,500 won, up 7,600 won, or 3.92 percent, from the previous session. SK Hynix rose 30,500 won, or 3.14 percent, to 1,000,500 won, breaking above the 1 million won level.

Hyundai Motor, up 2.49 percent, Kia, up 2.21 percent, SK Square, up 4.60 percent, Doosan Enerbility, up 2.87 percent, and Samsung Biologics, up 1.45 percent, were also rising in tandem.

Hanwha Aerospace fell 24,000 won, or 1.72 percent, making it the only decliner among the top 10 stocks by market capitalisation.

At the same time, the KOSDAQ was up 20.22 points, or 1.78 percent, at 1,157.16 from the previous session.

In the Seoul foreign exchange market, the won was trading at 1,486.90 per dollar, up 1.10 won, or 0.07 percent, from the previous session.