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News Topical, Digital Desk : Asian markets saw a strong rally, with South Korea's Kospi index reaching new highs. The strength of tech stocks in the US stock market was clearly visible in Asia. However, trading resumed in many markets after the Lunar New Year holidays, and investors bought freely. Meanwhile, the minutes of the Federal Reserve meeting, the wait for Walmart results, and Donald Trump's statement on the trade deficit played a key role in determining market direction.
Rising in Asia,
South Korea's Kospi jumped 2.76% to a record high. Heavyweight stocks contributed significantly to the index's rise. Samsung Electronics shares rose 4.14%, while SK Hynix gained 1.48%. The Kosdaq, a basket of smaller stocks, also jumped 0.59%.
The rest of Asian markets were also in the green - Australia's S&P/ASX 200 rose 1.1%. Japan's Nikkei 225 rose 0.52% and the Topix rose 0.39%. However, markets in Hong Kong and mainland China were closed for the Lunar New Year holidays.
Now let's talk about the US stock market... In the US, the S&P 500 rose 0.56% to close at 6,881.31. The Nasdaq Composite rose 0.78% to reach 22,753.63. The Dow Jones Industrial Average rose 0.26% to close at 49,662.66. The biggest reason for the rise was buying in tech giants. Nvidia rose 1.6% and Amazon rose 1.8%. Strength in the "Magnificent Seven" stocks supported the market. Angelo Kourkafas, a strategist at Edward Jones, says mega-cap stocks could see a rebound, but there are still doubts about the tech sector's continued leadership. He believes cyclical stocks could benefit more in the current environment.
Oil Surges: Oil prices jumped more than 4% due to geopolitical tensions. US Vice President J.D. Vance said that Iran did not meet US demands in nuclear talks. He also stated that President Donald Trump reserves the right to use military options if necessary. Investors are analyzing the minutes of the Federal Reserve's January meeting, as the report clearly showed differences among officials on policy. Meanwhile, the market is closely watching the fourth-quarter results of retail giant Walmart. The company 's stock has risen more than 13% in 2026, and its market cap has joined the $1 trillion club. The results could determine the overall market sentiment. On the other hand, President Donald Trump has claimed that the US trade deficit has shrunk by 78% and, due to tariffs, could enter positive territory for the first time. If this happens, it would be a major sign for the US market. Overall, Wall Street's strength was a major driver of Asian markets' enthusiasm. The rebound in tech stocks, Fed signals, rising oil prices, and Trump's claims have all injected new energy into global markets. All eyes will now be on US economic data and corporate results, which will determine future direction.
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