South Korea's Composite Index closed up 0.4% at 3,407.31 points. Japanese stocks are closed today.
South Korean stocks rose to record highs on Monday as the government abandoned plans to increase capital gains tax on stock investments. The benchmark Korea Composite Stock Index (KOSPI) rose 0.4% to 3,408.71 points, its 10th consecutive trading day of gains. South Korea's Minister of Planning and Finance Goo Yun-chol said on Monday that the government will not adjust the capital gains tax on stock investments. South Korean President Lee Myung said last week that he saw no need to continue implementing South Korea's capital gains tax revision plan, which aims to increase taxes on stock investors.
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