Seoul: South Korean stocks surged more than 2 percent Friday to close at an all-time high, led by strong gains in large-cap semiconductor shares. The local currency weakened against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 95.46 points, or 2.27 percent, to close at 4,309.63, climbing past the 4,300 level for the first time ever.

According to Yonhap News Agency, the previous record was set on Nov. 3, when the index closed at 4,221.87 amid strong optimism over artificial intelligence (AI)-driven growth.