With the United States and Iran agreeing to a 2-week ceasefire, the KOSPI ended in the 5,870s on April 8 as foreign and institutional buying surged.

The KOSPI closed up 377.56 points, or 6.87 percent, from the previous session at 5,872.34. The index opened at 5,804.70, up 309.92 points, or 5.64 percent, from the day before, and at one point jumped to 5,919.60, briefly touching the 5,900 level.

Foreigners and institutions net bought shares worth 2.4722 trillion won and 2.7114 trillion won, respectively. Retail investors net sold 5.4134 trillion won. About 3 trillion won flowed into financial investment volumes for institutions. Foreigners extended net buying for a second straight day.

Most top market-cap stocks rose sharply. Samsung Electronics rose 7.12 percent, SK Hynix 12.77 percent, Hyundai Motor 7.40 percent, SK Square 15.83 percent, Samsung Biologics 0.76 percent, Doosan Enerbility 6.64 percent, Kia 5.57 percent and KB Financial 6.34 percent.

LG Energy Solution fell 0.61 percent and Hanwha Aerospace fell 3.45 percent, ending lower.

The KOSDAQ also closed up 53.12 points, or 5.12 percent, at 1,089.85.

Soon after the open, a program trading curb (sidecar) was triggered in succession for both markets as KOSPI and KOSDAQ futures prices surged, temporarily suspending program buy orders.

In Seoul's foreign exchange market, the won ended at 1,470.6 per dollar, down 33.6 won from the previous day.