South Korea's benchmark stock index has hit an all-time high amid a buying spree by foreign investors driven in part by optimism over COVID-19 vaccine candidates. 

The benchmark Korea Composite Stock Price Index(KOSPI) rose 49-point-09 points, or one-point-92 percent on Monday. It ended the day at two-thousand-602-point-59.

The previous all-time record high on the KOSPI was set on January 29, 2018, when it ended the day at two-thousand-598-point-19 points. 

Earlier on Monday, the KOSPI hit two-thousand-604-point-92 points, marking the highest intra-day level in nearly 34 months after reaching two-thousand-607-point-10 points on January 29, 2018. 

Foreigners were net buyers of KOSPI-listed stocks for the 13th consecutive day with the buying spree attributed to growing expectations over COVID-19 vaccines, as well as eased uncertainties surrounding the U.S. presidential election. 

On the back of foreign buying, the KOSPI also climbed for the fourth consecutive day. 

The tech-heavy KOSDAQ also rose, gaining three-point-11 points, or zero-point-three-six percent, to close at 873-point-29.

On the foreign exchange, the local currency strengthened three-point-nine won against the dollar, ending the session at one-thousand-110-point-four won.