The benchmark Korea Composite Stock Price Index(KOSPI) closed slightly higher Wednesday due to Wall Street gains, easing Middle East tensions and rising hopes of an early rate cut by the U.S. Federal Reserve.

The KOSPI nudged up four-point-61 points, or zero-point-15 percent, to close at three-thousand-108-point-25.

Investor optimism over a ceasefire in the Middle East and a possible early rate cut by the Fed lifted both Wall Street and the KOSPI, but analysts warn that the KOSPI’s rapid rise above the 3,100 mark may face hurdles from global macroeconomic risks such as tariffs.

Chipmakers and automakers led the market gains, with Samsung Electronics rising one-point-32 percent and SK hynix jumping two-point-69 percent, while Hyundai Motor surged five-point-34 percent and POSCO Holdings advanced two-point-47 percent.

The tech-heavy KOSDAQ shed two-point-72 points, or zero-point-34 percent, to close at 798-point-21.