South Korea's KOSPI Hits Record 6,388.47 Close

South Korea's benchmark KOSPI index surged to a new all-time high on Tuesday, closing at 6,388.47 points, up 2.72 percent from the previous session and surpassing its prior record of 6,307.27 set on February 26. The milestone, achieved in Seoul's main stock exchange, marked the first such peak in about two months and reflected growing investor optimism amid easing geopolitical tensions in the Middle East and a resurgence in technology stocks.

The index opened at 6,302.54, up 1.34 percent, and quickly broke through its previous intraday high of 6,347.41, reaching as high as 6,370 points during trading. By mid-afternoon, it stood at 6,364.82, up 2.34 percent. Foreign investors fueled the rally, net buying 983.3 billion won worth of shares, while institutions added 594.4 billion won. Retail investors, however, sold off 1.47 trillion won. The market capitalization of KOSPI-listed firms also hit a record 5,236 trillion won, according to the Korea Exchange.

The advance came after a period of intense volatility triggered by the outbreak of conflict between the United States and Iran in late February. The index plummeted as much as 12 percent in a single day, dropping to a low of...