Asia Stocks Rally as Kospi Surges Over 30%, Samsung Jumps 4.7%

Khac Phu Nguyen

Thu, February 19, 2026 at 8:59 PM GMT+9 2 min read

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SSNLF

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^GSPC

+0.56%

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+0.80%

This article first appeared on GuruFocus.

Asian equities are regaining their footing, and this time it’s technology shares doing the heavy lifting. The MSCI Asia Pacific Index advanced 0.6%, extending its roughly 12% gain this year, while South Korea’s Kospi climbed to another record and is now up more than 30% in 2026. Samsung Electronics (SSNLF) rose as much as 4.7% to a fresh high after a newspaper report said the company is negotiating to sell a new generation of ultrafast chips at around $700, roughly 20% to 30% above its previous model. The move followed a 0.6% gain in the S&P 500 and a 0.8% rise in the Nasdaq 100, suggesting investors may be easing back from valuation concerns tied to artificial intelligence and looking more broadly for growth.

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Part of that shift in tone appears linked to funding momentum around OpenAI. People familiar said the ChatGPT maker is close to finalizing the first phase of a new funding round that could bring in more than $100 billion, with an overall valuation that may exceed $850 billion including the latest financing. Chris Weston of Pepperstone Group described what he sees as more universal earnings breadth, potentially reinforcing the idea that this is becoming a stock picker’s market rather than a narrow AI-driven rally. With mainland China, Hong Kong and Taiwan shut for the Lunar New Year holiday, other regional markets have effectively carried the sentiment baton.

Macro data in the US also offered support. January industrial production posted its biggest increase, business equipment orders in December rose by more than projected, and housing starts reached a five-month high. At the same time, minutes from the Federal Open Market Committee’s January meeting showed several participants would have preferred language keeping open the possibility of rate hikes if inflation remains above target. Fed funds futures indicate traders have slightly pared rate-cut expectations for this year but still anticipate two 25 basis-point reductions in 2026, even as some managers argue cuts may be off the table for the foreseeable future. In commodities, Brent crude held above $70 a barrel after a 4.3% jump, with West Texas Intermediate near $65 following reports that potential US military intervention in Iran could come sooner than expected, while gold was flat after a 2% gain. The Australian dollar strengthened as much as 0.4% to 70.71 US cents after unemployment held at 4.1%, potentially reinforcing expectations of a rate hike in May.

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