Asian Stocks Rally Sharply: Nikkei Hits New Record High, KOSPI Surges

Asian stock markets experienced a widespread rally on May 29, 2026, with Japan's Nikkei index soaring to a new all-time high and South Korea's KOSPI index also posting significant gains. The positive sentiment in Asian markets followed a strong performance in US stock markets the previous day, where all three major indices closed at record highs, particularly in the technology sector.

Expectations that the conflict between the United States and Iran is nearing its conclusion appear to be a key driver behind the market optimism. In Japan, the Nikkei index, which had already set a record closing high on May 25, surged by over 1,300 points in early trading on May 29, reaching 66,041.83 points. By mid-morning, it was trading up 1.84% at 65,881.37.

South Korea's KOSPI index opened higher and continued to climb, trading up 2.21% at 8366.20 points by mid-morning. Taiwan's stock market also saw a robust increase, with the main index opening higher and extending its gains. Led by semiconductor giant TSMC, the index surged by over 1,000 points, reaching a high of 44,670.04 points.