The benchmark Korea Composite Stock Price Index(KOSPI) set a new closing high on Tuesday after surging nearly seven percent.

The KOSPI gained 338-point-41 points, or six-point-84 percent, to close at five-thousand-288-point-08.

The index opened up 165-point-14 points, or three-point-34 percent from Monday at five-thousand-114-point-81 before climbing to break the previous closing high of five-thousand-224-point-36 posted last Friday. 

The tech-heavy KOSDAQ also climbed 45-point-97 points, or four-point-19 percent, to close at one-thousand-144-point-33.