The benchmark Korea Composite Stock Price Index(KOSPI) climbed to a fresh all-time high on Monday, marking the fourth consecutive day it set a new record high and its tenth straight day of gains.

The KOSPI rose eleven-point-77 points, or zero-point-35 percent, Monday to close at three-thousand-407-point-31. 

Stock prices were driven by the government's decision to scrap a planned capital gains tax hike and rising optimism over a possible U.S. Federal Reserve rate cut this week. 

Gains were led by the electronics, bio and chemical sectors.

The tech-heavy KOSDAQ rose five-point-61 points, or zero-point-66 percent, to close at 852.69.