South Korean stocks closed at a new record high Monday, easily breaching the landmark 7,800-point level, extending the winning streak to the fifth consecutive session, on the back of a bull run by semiconductor shares, despite concerns of a potentially botched peace deal between the United States and Iran.
The benchmark Korea Composite Stock Price Index (KOSPI) surged 324.24 points, or 4.32 percent, to end at a fresh high of 7,822.24 after rising as high as 7899.32.
The index delivered a record-breaking run for the fifth consecutive session, heading toward the unprecedented 8,000-point milestone.
With the bull run, the combined market capitalization of the KOSPI and the secondary bourse KOSDAQ surpassed 7,000 trillion won (US$4.75 trillion) for the first time in history Monday.
The combined market cap of the KOSPI and KOSDAQ topped 4,000 trillion won on Jan. 2 and surged to above 6,000 trillion won on April 27.
