South Korean stocks rose on Thursday on news that Hong Kong will scrap a controversial extradition bill and high-level trade negotiations between the U.S. and China will resume.

The benchmark Korea Composite Stock Price Index(KOSPI) gained 16-point-22 points, or point-82 percent, on Thursday. It ended the day at two-thousand-four-point-75, its highest closing figure since August 1.

The tech-heavy KOSDAQ also rose, gaining three-point-68 points, or point-58 percent, to close at 632-point-99, its highest closing figure since July 26.

Some major firms, like Samsung Electronics and SK Hynix, saw their stocks rise over 3 percent. 

On the foreign exchange, the local currency strengthened eight won against the dollar, ending the session at one-thousand-200-point-two won.