Global shares surge, led by records in Japan and South Korea, as markets
regain momentum
[February 03, 2026] By
YURI KAGEYAMA
TOKYO (AP) — Global shares surged on Tuesday, led by a nearly 7% jump in
South Korea’s benchmark and a 3.9% rally in Tokyo that took the Nikkei
225 to a record as investors bought tech-related shares.
France's CAC 40 gained 0.6% in early trading to 8,232.71, while the
German DAX surged 1.0% to 25,053.90. Britain's FTSE 100 rose 0.2% to
10,361.21.
The future for the S&P 500 was up 0.3% while that for the Dow Jones
Industrial Average rose 0.1%.
Markets are awaiting earnings reports from major companies to gauge the
impact of various trends including U.S. President Donald Trump’s tariffs
and possible curbs on rare earths exports from China.
Japan's benchmark Nikkei 225 climbed 3.9% to finish at 54,720.66, its
highest close ever. Shares in equipment maker Disco Corp. jumped 7.4%
while those in testing equipment maker Advantest gained 7.1%.
Share prices have been boosted by expectations that Prime Minister Sanae
Takaichi's Liberal Democratic Party will regain a significant majority
in the parliament in a Feb. 8 election, ushering in more market-friendly
policies. Some analysts warn the Japanese yen may weaken further if
Takaichi boosts government spending, presenting hardships for consumers
and some companies.
In South Korea, the Kospi gained 6.8% to 5,288.08, also a record.
Investors appeared to regain confidence after the latest scare over a
possible bubble in artificial intelligence as shares in Samsung
Electronics Co. soared 11.4% while those in chip maker SK Hynix rocketed
up 9.3%.
Hong Kong's Hang Seng gained 0.2% to 26,834.77, while the Shanghai
Composite added 1.3% to 4,067.74.
Australia’s S&P/ASX 200 edged up 0.9% to 8,857.10. Australia’s central
bank raised its benchmark policy rate for the first time in two years,
citing higher inflation than anticipated before it last cut rates.
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A person walks in front of an electronic stock board at a securities
firm in Tokyo Tuesday, Feb. 3, 2026. (Masanori Kumagai/Kyodo News
via AP)
 On Monday, the S&P 500 added 0.5%,
snapping a three-day losing streak. The Dow industrials rose 1.1%
and the Nasdaq composite gained 0.6%.
Gold gained 6.7% on Tuesday, while silver’s price rebounded nearly
14%.
Gold and silver prices have surged as investors search for safer
things to own at a time of uncertainty over the status of the
Federal Reserve, which may be set to become less independent, a U.S.
stock market that critics say is expensive, threats of tariffs and
heavy debt loads for governments worldwide.
Their prices cratered on Friday, including a 31.4% plunge for
silver. Some on Wall Street saw it as a result of President Donald
Trump’s nomination of Kevin Warsh as the next chair of the Fed.
The Fed’s chair has a big influence on the economy and markets
worldwide by helping to dictate where the U.S. central bank moves
interest rates. That affects prices for all kinds of investments, as
the Fed tries to keep the U.S. job market humming without letting
inflation get out of control.
In other dealings early Tuesday, benchmark U.S. crude fell 4 cents
to $62.10 a barrel. Brent crude shed 13 cents to $66.17 a barrel.
The U.S. dollar declined to 155.52 Japanese yen from 155.61 yen. The
euro cost $1.1819, up from $1.1791.
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