Asia markets climb, Nikkei tops 58,000

February 12, 2026 (MLN): Asian markets advanced on Thursday, led by a historic surge in Japan’s Nikkei 225, as investors digested strong U.S. jobs data and growing confidence in Japan’s political stability.

The Nikkei 225 briefly crossed the 58,000 mark for the first time ever, extending its post-election rally before trimming gains to trade marginally higher at 57,663. The broader Topix index climbed 0.68%, showing strength across Japanese equities.

The rally has been fueled by what market participants are calling the “Takaichi trade,” following Prime Minister Sanae Takaichi’s landslide victory in Japan’s Lower House election, according to the CNBC.

The decisive mandate is seen as providing multi-year political stability and policy continuity, which could accelerate economic reforms and corporate growth initiatives.

Global investment firm GMO said the strong electoral outcome gives the administration significant room to implement its economic agenda, which is viewed as supportive for Japanese markets.

However, the firm cautioned that currency intervention risks could rise if the yen weakens toward the 160 level against the U.S. dollar.

Elsewhere in Asia, markets largely shrugged off stronger-than-expected U.S. payroll figures that reduced expectations of near-term Federal Reserve rate cuts.

South Korea’s Kospi jumped as much as 2.1% to a record 5,466.9 points before easing to trade 1.82% higher. The Kosdaq index remained relatively flat.

Singapore’s benchmark index crossed the 5,000 threshold for the first time, marking a significant milestone for the city-state’s equity market.

Australia’s S&P/ASX 200 rose 0.42% in early trade. Meanwhile, Hong Kong’s Hang Seng Index slipped 0.23%, while mainland China’s CSI 300 edged up 0.12%.

Overnight on Wall Street, major indices ended mixed after data showed the U.S. labor market remained resilient.

The Dow Jones Industrial Average fell 66.74 points, or 0.13%, to close at 50,121.40, snapping a three-day winning streak.

The S&P 500 finished nearly flat at 6,941.47, while the Nasdaq Composite declined 0.16% to 23,066.47.

The U.S. Bureau of Labor Statistics reported that nonfarm payrolls increased by 130,000 in January, significantly above expectations of 55,000.

December job growth was revised downward to 48,000.

The stronger-than-expected employment data has dampened hopes for imminent Federal Reserve rate cuts.

It followed weaker consumer spending data earlier in the week, which showed December spending was flat, missing forecasts for a 0.4% monthly increase.

Despite global rate uncertainty, Asian markets particularly Japan continue to benefit from renewed domestic optimism and strong investor sentiment.

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