The benchmark Korea Composite Stock Price Index(KOSPI) experienced a sharp rally on Monday despite the escalating geopolitical tensions in the Middle East, climbing above the two-thousand-940 mark for the first time in three years and five months.

The KOSPI jumped 52-point-04 points, or one-point-eight percent, from the previous trading day to close Monday at two-thousand-946-point-66.

Individual and institutional investors posted net purchases of 45-point-one billion won and 252-point-six billion won, or 33 million and 186 million U.S. dollars, respectively, while foreign investors’ net sales reached 322-point-three billion won.

Israel’s airstrikes on Iran on Friday most likely made their impact on the South Korean index the previous day, when it fell zero-point-87 percent, while investors were seemingly relieved by speculation that Iran is unlikely to block energy shipments through the Strait of Hormuz.

The tech-heavy KOSDAQ rose eight-point-four points, or one-point-09 percent, to end the day’s trading at 777-point-26.

Monday’s Seoul closing spot rate at 3:30 p.m. stood at one-thousand-363-point-eight won against the U.S. dollar, with the local currency strengthening five-point-eight won since the previous session.