South Korea's Kospi jumps to record high as regional rally tracks Wall Street gains
An aerial view of Singapore’s skyline.
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South Korea’s Kospi hit a fresh record high Thursday, as the region tracked gains on Wall Street and several bourses in Asia resumed trading after the Lunar New Year holiday.
The Kospi index jumped 2.84% to a fresh record high, with index heavyweights Samsung Electronics and SK Hynix up 4.14% and 1.48%, respectively.
“After nearly doubling in 2025, Korea is again the leading market in Asia Pacific,” Goldman Sachs wrote in a recent note. “While many investors are asking if they should reduce positions after such strong performance, we think it is still too early.”
The investment bank forecasts 120% growth for Korean equity markets in 2026, after rising 36% in 2025.
The small-cap Kosdaq advanced 4.68%.
Australia’s S&P/ASX 200 rose 0.93%.
Japan’s Nikkei 225 added 0.72%, while the Topix rose 1.12%.
Hong Kong and mainland China markets remain closed for the Lunar New Year break.
Overnight in the U.S., the S&P 500 moved higher, supported by gains in key technology names, as traders weighed the release of the minutes from the Federal Reserve’s most recent policy meeting.
The broad-based index climbed 0.56% to end at 6,881.31, while the Nasdaq Composite added 0.78% to settle at 22,753.63. The Dow Jones Industrial Average added 0.26% to close at 49,662.66.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
