The Korea Times
Korean stocks were trading at a fresh record high of above 7,800 points late Monday morning, boosted by an extended rally of blue chip semiconductor shares, despite woes over the U.S.-Iran peace deal falling apart. The benchmark Korea Composite Stock Price Index (KOSPI) had surged 324.22 points, or 4.32 percent, to 7,822.22 as of 11:20 a.m. after rising as high as 7876.60. The index has been on a record-breaking run for the fifth consecutive session, heading toward the unprecedented 8,000-point milestone. Due to the sharp rise, a buy-side sidecar was issued at around 9:29 a.m., halting trading for five minutes. With the bull run, the combined market capitalization of the KOSPI and the secondary bourse KOSDAQ surpassed 7,000 trillion won ($4.75 trillion) for the first time in history on 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. Monday's surge came even after U.S. President Donald Trump said earlier in the day he cannot accept Iran's peace offer, which raised concerns over a potentially botc
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