South Korea's KOSPI benchmark index rose for a fifth consecutive trading day, gaining as much as 2.9% and briefly surpassing the 7,000-point mark.

The rally was driven by strength in U.S. semiconductor stocks, with SK Hynix shares surging over 6% to lead the index higher. Samsung Electronics and SK Square also posted gains, following the upward momentum.

During the morning session, foreign investors were net buyers of KOSPI stocks, while domestic institutions were net sellers. The benchmark index has advanced more than 11% this week.

Meanwhile, South Korea's junior Kosdaq market, which tracks small-cap stocks, rose by up to 2% during the session.