The benchmark Korea Composite Stock Price Index(KOSPI) breached the three-thousand-400 mark during early trading on Monday to set a record high for the fourth consecutive trading day.

According to the Korea Exchange, the main bourse continued to expand its gains after opening the day at three-thousand-407-point-78, up 12-point-24 points from last Friday’s closing. 

The figure broke the previous high of three-thousand-395-point-54 posted last Friday. 

The KOSPI climbed up to the three-thousand-420 mark at one point during morning trading. 

Market analysts attributed the rise in stock prices to the gain in semiconductor shares and the government’s announcement earlier in the day that it will keep the major shareholder threshold for capital gains tax at five billion won, or three-point-six million U.S. dollars.