South Korea's benchmark KOSPI index (the Korea Composite Stock Price Index) closed at a new all-time high of 7,490.05 on Thursday, gaining 1.43 percent after briefly surpassing the 7,500-point mark for the first time, marking its third consecutive record close. Gains were driven by optimism over ongoing US-Iran negotiations to end their conflict, with President Donald Trump indicating a deal could be reached before his planned visit to Beijing next week, alongside a positive outlook for chipmakers buoyed by the AI boom. While tech, auto, and banking stocks advanced — with Samsung Electronics and SK Hynix rising sharply — defence shares fell heavily, reflecting investor expectations that a Middle East settlement could reduce demand for arms.