South Korea’s benchmark KOSPI index surged to a record high on Monday, February 19, 2026, closing up 2.92% at 5667.82 points, driven by strong gains in the semiconductor sector. The rise followed the country’s return from its Lunar New Year holiday, marking the first trading day of the new year for Korean markets.
Leading the rally was Samsung Electronics, which saw its share price increase by over 4%, with negotiations reportedly underway regarding a $700 price tag for its HBM4 chips, according to reports from both The Korea Economic Daily and Finance.Eastmoney. SK Hynix also contributed to the sector’s gains, rising nearly 3%. The surge in semiconductor stocks mirrored positive momentum from the U.S. Tech sector the previous night.
The KOSDAQ 150 index experienced such rapid growth that trading was temporarily suspended due to the activation of the Korea Exchange’s “Sidecar” mechanism, designed to curb excessive volatility. This pause affected program trading on the KOSDAQ market.
Japan’s Nikkei 225 index also opened higher, rising 0.64% to 57,507 points, while the broader TOPIX index gained 0.53% to 57,446.07 points. However, the initial gains were later surpassed, with the Nikkei 225 ultimately closing up 0.85% at 57,629.09 points.
In contrast to the equity markets, precious metals experienced a reversal in fortunes. Spot gold fell below $4,970 per ounce and spot silver dropped to $76.734 per ounce, after a period of gains. The previous night saw significant volatility in the gold market, briefly exceeding $5,000 before falling back to around $4,960. Silver had also experienced a substantial increase, rising by 6% to surpass $78 per ounce.
The shifts in precious metal prices occurred amid ongoing assessments of geopolitical risks in regions including the Middle East and Ukraine, as well as differing opinions among Federal Reserve officials regarding the future trajectory of interest rates. The yen weakened slightly, falling 0.02% against the dollar to 154.8 yen.
The election of Kishida Fumio as Japan’s 105th Prime Minister on February 18th provided a degree of political stability, though its impact on market movements remains to be seen. The Japanese government has not yet commented on the market fluctuations.