[DigitalToday reporter Sangyeop Oh (오상엽)] South Korea's KOSPI opened lower after an overnight armed clash between the United States and Iran dampened expectations for end-of-war talks. It later recovered all of its losses, turned higher and ended at a record high.

On May 8, the KOSPI closed up 7.95 points, or 0.11 percent, at 7,498.00. The index opened down 136.11 points, or 1.82 percent, at 7,353.94 and slid to as low as 7,318.96 early in the session. It later turned higher late in the session. It climbed as high as 7,511.01 at one point, recovering the 7,500 level.

By investor type, individuals were net buyers of 3.93 trillion won and institutions bought 1.54 trillion won. Foreigners, however, net sold 5.53 trillion won worth of shares, following 6.70 trillion won the previous day.

Top stocks by market value were mixed. SK Hynix rose 1.93 percent to 1,686,000 won, while Hyundai Motor gained 7.17 percent and Samsung C&T climbed 4.32 percent.

Samsung Electronics fell 1.10 percent, LG Energy Solution lost 1.35 percent, Doosan Enerbility dropped 4.99 percent, HD Hyundai Heavy Industries slipped 5.05 percent and Samsung Electro-Mechanics fell 0.33 percent.

The KOSDAQ closed up 8.54 points, or 0.71 percent, at 1,207.72.

In the Seoul foreign exchange market, the won ended at 1,470.90 per dollar, down 12.90 won from the previous session.