This photo, taken Thursday, shows the trading room of Hana Bank in Seoul as South Korean stocks reached a new high driven by gains in AI-related shares. Photo by Yonhap
South Korean stocks extended a rally to a fresh all-time high Monday, driven by strong gains in stocks related to artificial intelligence (AI). The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 311.85 points, or 3.68 percent, to close at 8,788.38, after hitting a new intraday high of 8,874.16.
The index opened at a record high and extended its gains, prompting the Korea Exchange (KRX) to activate a buy-side sidecar, which suspended program trading of KOSPI stocks for five minutes at around 11:30 a.m.
Trade volume was heavy at 618.17 million shares worth 69.4 trillion won (US$46.1 billion), with losers outnumbering winners 712 to 194.
