Asian Markets Advance as South Korea Leads the Rally

Asian markets moved broadly higher on October 28, 2026, led by a sharp rally in South Korea. The KOSPI Composite Index posted the session’s strongest advance, while Japan and mainland China also recorded gains. Hong Kong’s Hang Seng rose modestly, although Australia’s benchmark was nearly unchanged and India’s market declined.

The KOSPI climbed 6.63% to 6,012.44, gaining 374.10 points from its previous reported close of 5,638.34. The advance reversed its 3.09% decline on October 27 and pushed the benchmark back above 6,000.

Japan’s Nikkei 225 increased 1.08% to 63,954.19, adding 685.82 points from its previous close of 63,268.37. The index moved closer to 64,000 as the broader regional session strengthened.

The SSE Composite Index advanced 0.91% to 3,681.47, recovering from its previous session’s 1.33% decline.

KOSPI Reclaims 6,000 as Japan Advances

South Korea’s benchmark was the clear regional outperformer. Its 6.63% gain followed a volatile sequence of declines and recoveries over recent sessions. The move returned the KOSPI above 6,000, a key level for monitoring the index’s near-term direction.

The Nikkei’s 1.08% increase extended its recovery after gaining 1.73% in the previous reported session. At 63,954.19, the Japanese benchmark approached the 64,000 threshold.

Hong Kong’s Hang Seng added 0.23% to 23,094.83, a gain of 53.51 points. The advance was comparatively limited but kept the index above 23,000.

The differing sizes of the gains highlight the concentration of the session’s strongest momentum in South Korea, rather than an equally strong advance across all regional markets.

Australia and India Lag the Regional Advance

Australia’s S&P/ASX 200 edged down 0.03% to 8,847.30, slipping 2.80 points from its previous reported close of 8,850.10. The near-flat result contrasted with the larger gains in South Korea, Japan and China.

India’s S&P BSE SENSEX declined 0.43% to 73,284.48, losing 314.19 points from its previous close of 73,598.67. The decline followed a nearly unchanged session on October 27.

These weaker results show that the regional advance did not extend to every major benchmark.

Currency and Private Equity Indicators

The APAC Private Equity index rose 0.20% to 6,920.15, while the Australian Dollar Currency Index gained 0.13% to 70.26. Both posted modest increases.

The PHLX Yen fell 0.24% to 63.32, making it the weakest performer among the listed non-equity indicators. Its decline contrasted with the gains in the majority of Asian equity benchmarks.

Outlook

The October 28 session was defined by South Korea’s powerful rebound, with the KOSPI reclaiming 6,000 and major benchmarks in Japan and China also advancing. Investors may monitor whether the KOSPI can hold above that level and whether gains broaden across the region. The next sessions will help determine whether the latest rally represents a sustained recovery or another sharp move within a volatile market environment.