Samsung Electronics, SK hynix drive rally with fresh highs A financial data screen at KB Kookmin Bank's headquarters in Yeouido, western Seoul, shows the Kospi standing at 8,085.6, advancing 237.89 points, or 3.03 percent shortly after the opening bell on Tuesday. (Yoon Chang-bin/The Korea Herald) The South Korean benchmark Kospi soared above 8,100 points for the first time during intraday trading Tuesday on expectations of an end to the war in Iran as Washington and Tehran inch closer to a deal.The index opened at 8,070.91, up 2.84 percent from Friday’s close, as markets were closed Monday for a public holiday. It extended gains to hit as high as 8,131.15, shattering its previous intraday record of 8,046.78 set on May 15. As of 1 p.m., the index stood at 8,104.01, up 3.27 percent for the session.Investor sentiment appeared to improve on expectations that the US and Iran could reach a ceasefire agreement, as the two countries signaled progress in efforts to resolve the conflict. Earlier, the two sides were reported to be close to extending the ceasefire by 60 days and signing a framework agreement aimed at reaching a final deal.On the main bourse, foreign and institutional investors were net buyers of roughly 405 billion won ($270 million) and 1.15 trillion won, respectively, while retail investors offloaded a net 1.45 trillion won worth of shares.Foreign investors initially remained net sellers after the opening bell, but later turned net buyers, snapping their selling streak, as of press time.Chip heavyweights led the rally, each reaching fresh highs. Shares of Samsung Electronics rose 2.82 percent to 300,750 won, reclaiming the 300,000 won mark, while SK hynix gained 6.8 percent to 2.078 million won.Notably, SK hynix surpassed 2 million won per share for the first time during main trading hours, touching as high as 2.087 million won.Strong buying momentum poured into the memory chip giants ahead of the launch of leveraged exchange-traded funds tracking the two stocks on Wednesday.SK Square climbed 0.42 percent, and Hyundai Motor advanced 4.73 percent.The secondary Kosdaq opened 2.42 percent higher at 1,189.28. It later partly pared the gains and stood at 1,178.07, inching up 1.46 percent on-session, as of 1 p.m.With overseas investors returning to the local stock market, the Korean won strengthened against the dollar. The local won was quoted at 1,515 won per dollar as of the opening of onshore trading, strengthening 2.2 won from the previous session. It was quoted at 1,506.33 per greenback as of 1 p.m."During the holiday closure of Korean and US stock markets, major Asian benchmarks with heavy exposure to the AI value chain, including Japan's Nikkei 225, Taiwan’s Taiex and China's STAR Market 50 Index, continued to hit fresh record highs," Shinyoung Securities analyst Lee Sang-yeon said."Against this backdrop, the Korean stock market is likely to maintain its upward momentum, boasting strong competitiveness across the AI value chain led by semiconductors."