Asia mixed: Tokyo and Seoul hit record highs, Hong Kong retreats

Asian equities closed mixed on Thursday, 26 February 2026, with Japan and South Korea outperforming on renewed strength in the technology sector, while Hong Kong ended the session in negative territory and Shanghai finished broadly flat.

The Nikkei 225 ended the day up حوالي 0.3%, hovering around 58,750 points after touching fresh intraday record highs above 59,000. Japanese equities were supported in particular by semiconductor and artificial intelligence-related stocks, following better-than-expected results from Nvidia, which reinforced the narrative of solid global demand for advanced chips. The backdrop also remains underpinned by the Bank of Japan’s still-accommodative monetary policy, providing favorable financial conditions for risk assets.

An even stronger performance was recorded by the KOSPI, which jumped more than 3% to around 6,300 points, setting new all-time highs. The rally was driven by heavyweight semiconductor names, as investors increased exposure to the sector amid a renewed appetite for risk.

By contrast, the Hang Seng fell about 1%, weighed down by profit-taking in Chinese technology stocks and a more cautious macro outlook. The Shanghai Composite closed little changed near 4,140 points, reflecting a balance between selective buying and investor prudence.

Overall, regional market sentiment remains moderately positive, supported by optimism surrounding AI and corporate earnings. However, it continues to be constrained by elevated valuations and geopolitical variables—from energy-related tensions to U.S.-China relations - encouraging investors to adopt a more tactical rather than outright directional positioning.

Andrea Pelucchi