Seoul Breaks New Ground as Kospi Surges Past 4,800 Mark; Asian Markets Show Divergent Momentum

Asian equities painted a mixed picture on Friday, with standout performances offsetting broader regional headwinds. Seoul’s benchmark Kospi delivered the session’s headline achievement, climbing 0.90 percent to 4,840.74—a historic milestone as the index crossed the 4,800 threshold for both intraday and closing levels for the first time. The breakthrough reflected renewed appetite for artificial intelligence-linked equities, with Samsung Electronics leading the charge by surging 3.5 percent to 149,500 won during trading.

Chip Rally Powers Seoul, Supports Regional Tech

The momentum behind Seoul’s gains drew strength from broader semiconductor sector enthusiasm. Regional chip stocks rallied across the board following Taiwan Semiconductor Manufacturing Company’s impressive quarterly performance, which generated $16 billion in profits and reignited investor confidence in AI-driven growth narratives. This tailwind extended across Asia’s tech hubs, providing counterbalance to selling pressure elsewhere.

Mixed Signals Across Major Bourses

Hong Kong’s Hang Seng slipped 0.29 percent to 26,844.96, weighed down by caution ahead of China’s economic growth figures scheduled for Monday release. The Shanghai Composite dipped 0.26 percent to 4,101.91 following policy signals from Beijing regarding import controls. Japan’s Nikkei average retreated 0.32 percent to 53,936.17, with political uncertainty dominating sentiment as lawmakers prepared for a snap general election on February 8, following official campaign launches from January 27. Fast Retailing and Tokyo Electron dragged the broader market lower, while the Topix index fell 0.28 percent to 3,658.68.

Down under, Australia and New Zealand posted gains. The S&P/ASX 200 rose 0.48 percent to 8,903.90, extending its winning streak to five consecutive sessions on banking sector strength, while New Zealand’s S&P/NZX-50 climbed 0.43 percent to 13,718.10 following data showing manufacturing expansion at four-year highs in December.

Wall Street Rebound Provides Tailwind

Overnight U.S. performance added to the positive backdrop. Chip stocks and financial equities rebounded strongly after two sessions of losses, supported by strong earnings surprises from major names. U.S. jobless claims unexpectedly dropped to the lowest level since November, suggesting labor market resilience that prompted traders to temper rate-cut bets. The dollar index steadied near 99.50, while gold retraced slightly from record highs to around $4,600 per ounce. Oil prices climbed modestly as geopolitical tensions eased, recovering from Thursday’s 4 percent decline. The Dow gained 0.6 percent while both the S&P 500 and Nasdaq Composite edged up 0.3 percent.

The divergent performance underscores how regional factors, earnings momentum in key sectors like semiconductors, and macro data continue to shape investment flows across Asian markets.