The benchmark KOSPI soared more than 5% to around 7,330 on Wednesday, extending its record-setting run, driven by improved global risk sentiment and a tech-led rally. Sentiment was lifted after US President Donald Trump paused efforts to guide vessels through the Strait of Hormuz to allow time for a potential deal with Iran, raising hopes of easing disruptions in a key oil route. Oil prices fell on the news, easing inflation concerns and lifting global equities alongside Wall Street’s record highs. Semiconductor heavyweights led the advance, with Samsung Electronics (12.3%) and SK Hynix (10.0%) hitting record highs on optimism over the AI-driven chip supercycle and tightening memory supply. Other notable gains included SK Square (11.6%), Hyundai Motor (3.3%), and KB Financial Group (2.9%). Strong foreign and institutional buying added support, with overseas investors purchasing about KRW 3 trillion worth of shares and institutions adding about KRW 1.9 trillion.