Seoul: South Korean stocks finished at a fresh all-time high Monday on a continued rally in semiconductor shares amid signs of progress in U.S.-Iran talks to end their monthslong war in the Middle East. The local currency lost against the U.S. dollar. After opening 1.08 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) added 62.13 points, or 0.69 percent, to 9,114.55, after rising as high as 9,253.00.

According to Yonhap News Agency, on Sunday, Washington and Tehran wrapped up their first talks and agreed on a roadmap to reach a final deal within 60 days, according to a statement issued by the mediating countries of Qatar and Pakistan. The negotiations had been at risk of breakdown as Tehran said it had closed the Strait of Hormuz and U.S. President Donald Trump had repeated his threats to resume attacks on Iran.