South Korea's benchmark KOSPI index (Korea Composite Stock Price Index) surged 5.12 percent on Monday to close at a record high of 6,936.99, approaching the symbolic 7,000-point threshold for the first time. Semiconductor stocks led the charge, with chip giant Samsung Electronics rising 5.44 percent and rival SK Hynix jumping over 12 percent to its own record high, crossing 10 trillion won in market capitalisation. The rally was fuelled by strong Wall Street gains over the weekend, continued optimism around the AI sector, and hopes for the reopening of the Strait of Hormuz amid ongoing U.S.-Iran tensions, with foreign and institutional investors buying a combined 4.9 trillion won in local shares.