Seoul, Feb 22, 2026, 15:51 (KST) — Market closed.
South Korea’s KOSPI opened the week sitting just above its record close, after Friday’s 2.31% surge left it at 5,808.53. The KOSDAQ, however, edged down 0.58% to 1,154.00, as strong chip and defense names managed to offset pressure from weaker growth stocks. 1
The record-setting rally stands on just two uncertain pillars: chips and policy optimism. “Investors have maintained expectations” for shareholder-friendly moves, said Kim Seok-hwan at Mirae Asset Securities, but he warned, “the risk of a full-scale conflict is not negligible.” Iran headlines, he added, continue to keep nerves stretched for some. 2
Positioning jitters are surfacing. The KOSPI200 volatility index (VKOSPI), a barometer for investor anxiety, settled at 43.87 on Friday. Retail players have been snapping up dividend-linked trades in the run-up to late-February and March record dates, according to Chosun Biz. “Selective approaches are needed this February to March,” Yeom Dong-chan at Korea Investment & Securities said, pointing to both the dividend record-date calendars and tweaks in tax rules as catalysts. 3
SK hynix drew attention after a filing revealed BlackRock Fund Advisors crossed the 5% ownership line, reporting 36.4 million shares with the move described as “simple investment.” Korea JoongAng Daily calculated the stake’s value at roughly 34.6 trillion won ($23.9 billion) at Friday’s close. 4
Thursday’s domestic agenda puts macro policy in focus, with the Bank of Korea widely expected to leave its key rate at 2.5% again—marking meeting number six with no change. “Volatility in major price variables has increased since February,” said senior deputy governor Ryoo Sang-dai, as authorities keep an eye on the won, housing markets, and rate path signals from the U.S. 5
Traders abroad are bracing for Nvidia’s quarterly numbers Wednesday, which will offer a litmus test for the strength of the AI spending boom markets have been banking on. Reuters’ “Take Five” calls Nvidia’s update the week’s pivotal event for global equities. 6
The record run could unravel quickly. Any slip in global AI earnings, a spike in oil prices tied to geopolitics, or fresh dollar strength—any of those might prompt profit-taking in Seoul. Not much cushion left after such a stretch of gains.
The rally isn’t just about chip stocks—the move has been wide enough to catch plenty of attention across the board. As of Friday’s close, the KOSPI was up 5.48% over five days, a run that’s lured fresh short-term cash and set the stage for sharper reactions if policy or earnings news hits. 7
