South Korea's Kospi jumps to record high as regional rally tracks Wall Street gains

NoodlesOrTokens · 2026-02-22T01:17:41+00:00

South Korea's Kospi index reached a record high, climbing over 3% to 5,677.25, driven by major stocks like Samsung Electronics. Despite a recent life sentence for former President Yoon Suk Yeol, forecasts indicate strong earnings growth for Korean equities.

NoodlesOrTokens

2026-02-22 01:17:41

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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 more than 3% to a fresh record high, closing at 5,677.25, with index heavyweights Samsung Electronics and SK Hynix up 4.86% and 1.59%, respectively. The South Korean won weakened about 0.2% to trade around 1,446.3 against the dollar.

Former South Korean President Yoon Suk Yeol was sentenced to life imprisonment on Thursday after a court found him guilty of leading an insurrection during his unsuccessful attempt to declare martial law in December 2024.

“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% earnings growth for Korean equity markets in 2026, after rising 36% in 2025.

The small-cap Kosdaq advanced nearly 5% to end the trading day at 1,160.71.

Australia’s S&P/ASX 200 rose 0.88% to close at 9,086.2.

Japan’s Nikkei 225 added 0.57% to 57,467.83, while the Topix rose 1.18% to 3,852.09.

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.

Correction: This article has been updated to reflect that Goldman’s forecast is for South Korean companies’ earnings growth.

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