South Korean stock market hits over seven-week high, boosted by rally in chip and battery stocks.

The South Korean stock market rose more than 1% on Monday, reaching a seven-week high, driven by the rise in chip and battery manufacturers' stock prices, although investors are still closely watching the situation in the Middle East. The Korea Composite Stock Price Index increased by 70.19 points or 1.13% to 6,262.11 points. Concerns about the possible breakdown of the US-Iran ceasefire agreement have intensified. Earlier, the US seized an Iranian ship attempting to break the blockade, and Tehran vowed to retaliate. Among the heavyweights, Samsung Electronics rose by 0.12%, SK Hynix rose by 3.99%, and battery manufacturer LG Energy Solution rose by 3.11%. LG Chem rose by 2.78%, while the major portal website Naver fell by 1.15% and mobile communication app provider Kakao fell by 1.30%. Hyundai Motor fell by 1.30%, Kia Motors fell by 0.38%; steelmaker POSCO Holdings rose by 1.30%, and pharmaceutical company Samsung Biologics rose by 0.56%. Foreign investors sold a net 2,290.98 billion Korean won in the KOSPI market.