South Korean stocks shot up by more than 5 percent to close at a fresh high Monday, approaching the 7,000-point mark, as investors scooped up semiconductor shares while awaiting developments in U.S.-Iran peace talks. The Korean won rose sharply against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 338.12 points, or 5.12 percent, to a fresh record high of 6,936.99.
Trade volume was heavy at 864.3 million shares worth 41.3 trillion won (US$28.2 billion), with losers outnumbering winners 473 to 392.
Foreigners bought 3 trillion won worth of local shares, and institutions purchased a net 1.9 trillion won, while retail investors dumped a net 4.8 trillion won.
The index opened 2.79 percent higher after U.S. President Donald Trump announced a plan to guide ships not involved in the Iran conflict through the Strait of Hormuz as a "humanitarian gesture" starting this week.
