Asian markets closed with mixed performances on February 12, 2026, as strong gains in South Korea and selective strength in Japan were offset by weakness in Hong Kong and India. Currency markets also reflected a risk-on tilt, with the Australian dollar and Japanese yen advancing. Regional sentiment remained cautiously optimistic, though investors rotated selectively across markets.

KOSPI Leads Regional Gains with Strong 3% Rally

South Korea’s KOSPI Composite Index surged 3.13% to 5,522.27, delivering the strongest performance across Asia. The sharp advance suggests renewed investor confidence in Korean equities, particularly in semiconductor and technology-linked names that tend to drive broader index momentum.

The rally comes amid improving global risk appetite and continued optimism around export demand. Investors appear to be positioning ahead of potential policy clarity from major central banks, while also responding to improved corporate outlooks in key Asian technology supply chains.

Japan’s Nikkei 225 ended nearly flat at 57,639.84, slipping just 0.02%. While the move was marginal, it reflected consolidation after recent gains. Meanwhile, the Japanese Yen Index rose 0.73% to 65.25, signaling currency strength that could slightly weigh on export competitiveness if sustained.

China’s SSE Composite Index edged up 0.14% to 4,134.02, suggesting relative stability in mainland equities. Modest gains indicate cautious participation, with investors balancing domestic economic signals against broader global trends.

Hong Kong and India See Profit-Taking

Not all markets shared in the rally. Hong Kong’s Hang Seng declined 0.89% to 27,024.70, reversing part of its recent upward momentum. The pullback may reflect profit-taking following prior gains, as traders reassess valuations and near-term catalysts.

India’s S&P BSE Sensex fell 0.65% to 83,689.03, marking one of the weaker performances in the region. The decline comes despite broader global strength and may signal domestic repositioning rather than a structural shift in sentiment. Indian equities have seen elevated volatility in recent sessions, and investors appear to be recalibrating risk exposure.

Meanwhile, Australia’s S&P/ASX 200 gained 0.32% to 9,043.50, supported by strength in commodities and financials. The Australian Dollar Index rose 0.69% to 71.24, reflecting improved demand for risk-sensitive currencies.

Holiday Closures and Currency Signals

Taiwan’s Stock Exchange was closed for a public holiday, reducing overall regional liquidity. With Taiwan being a major player in the global semiconductor supply chain, its absence may have limited broader participation in tech-heavy trading flows across Asia.

Currency markets provided additional insight into investor positioning:

• Japanese Yen Index: 65.25 (+0.73%)
• Australian Dollar Index: 71.24 (+0.69%)

The strengthening of both the yen and the Australian dollar suggests a nuanced risk environment. The Australian dollar’s rise typically signals confidence in commodity demand and global growth, while the yen’s advance can indicate hedging or safe-haven flows.

Overall, today’s session reflects selective optimism rather than broad-based euphoria. Strong gains in South Korea highlight renewed momentum in tech-driven markets, while weakness in Hong Kong and India underscores lingering caution.

Looking ahead, investors will monitor upcoming economic data releases, corporate earnings guidance, and central bank signals across major economies. Sustained gains in technology and export-oriented markets could reinforce the current risk-on tone, but volatility may re-emerge if inflation pressures, currency swings, or geopolitical developments intensify. Traders are likely to remain nimble, balancing growth opportunities with defensive positioning as Asia navigates evolving global conditions.