Seoul Marks Historic Milestone as Kospi Surges Past 4,800 Amid AI Rally

Asian markets displayed contrasting momentum on Friday, with Seoul stealing the spotlight as the Kospi benchmark climbed 0.90 percent to close at 4,840.74—breaching the symbolic 4,800 level for the first time in closing history. This milestone reflects sustained appetite for semiconductor and artificial intelligence-related equities across the region.

The rally in chip stocks drew strength from record financial results in the sector. Taiwan Semiconductor reported quarterly profits hitting $16 billion, reigniting investor confidence in AI-driven technology growth. This buoyancy lifted Seoul’s market heavyweight Samsung Electronics, which surged 3.5 percent to 148,900 won, reaching intraday highs near 149,500 won as traders rotated into semiconductor exposure.

However, the broader Asian landscape painted a more nuanced picture. Chinese equities retreated as Beijing imposed restrictions on advanced semiconductor imports, causing Shanghai’s benchmark to slide 0.26 percent to 4,101.91. Hong Kong’s Hang Seng similarly declined 0.29 percent to 26,844.96 ahead of Monday’s economic data release, signaling caution among traders.

Japan’s equity markets struggled with political headwinds, as uncertainty surrounding a snap general election scheduled for February 8 weighed on sentiment. The Nikkei average fell 0.32 percent to 53,936.17, with blue-chip names like Fast Retailing and Tokyo Electron pressuring the index lower. The Topix counterpart retreated 0.28 percent to 3,658.68.

Meanwhile, strength in banking and financial services buoyed markets across the Pacific. Australia’s S&P/ASX 200 extended its five-session winning streak, climbing 0.48 percent to 8,903.90 near three-month closing highs. New Zealand’s S&P/NZX-50 followed suit, gaining 0.43 percent to 13,718.10 as manufacturing data showed the sector’s fastest expansion in four years during December.

On Wall Street, equities bounced back after a two-session selloff, with technology and financials leading recoveries. The Dow climbed 0.6 percent while Nasdaq Composite and S&P 500 each advanced 0.3 percent. Supportive factors included a lower-than-expected jobless claims report, signaling labor market resilience and potentially moderating rate-cut expectations. Oil prices also stabilized after declining 3.8 percent on Thursday amid easing geopolitical tensions, providing relief to energy-sensitive sectors.

The dollar index held steady near 99.50, while gold retreated from recent record peaks to trade around $4,600 per ounce, as investors weighed competing macroeconomic signals and sentiment shifts toward risk assets.