The benchmark Korea Composite Stock Price Index(KOSPI) ended Monday more than one percent higher as uncertainties have cleared up regarding the U.S. presidential election outcome and trade tensions between the U.S. and China are expected to be alleviated.

The KOSPI gained 30-point-70 points, or one-point-27 percent on Monday to close at two-thousand-447-point-20. 

At one point during trading, the index reached two-thousand-459-point-15, reaching the highest level during intraday trading so far this year.

Meanwhile on the foreign exchange, the local currency strengthened six-point-five won against the dollar, ending at one-thousand-113-point-nine won, the lowest in about 22 months since January last year.

With Biden's election win, preference for more risky assets, such as the currencies of emerging economies, has strengthened, while anticipation for economic stimulus measures from the new U.S. administration has also weakened the value of the greenback.