Asia markets mixed as South Korea’s Kospi extends record rally

June 19, 2026 (MLN): Asia-Pacific equity markets traded in mixed territory on Friday, with South Korean stocks leading regional gains as technology heavyweights continued their record-breaking advance, while investors closely monitored developments surrounding the United States-brokered agreement with Iran and renewed pressure on the Japanese yen.

South Korea's benchmark Kospi surged 2.8%, building on its historic rally after surpassing the 9,000-point threshold for the first time in the previous session, according to CNBC.

The gains were largely driven by semiconductor giants Samsung Electronics and SK Hynix, whose shares climbed to fresh all-time highs. Meanwhile, the small-cap Kosdaq index slipped 0.39%.

In Japan, the Nikkei 225 advanced 0.6% after reaching a record high on Thursday, while the broader Topix index traded largely unchanged. Australia's S&P/ASX 200 declined 0.74%, showing a cautious mood among investors.

Financial markets in mainland China, Hong Kong and Taiwan remained closed for a public holiday.

Investor sentiment was also influenced by comments from U.S. Vice President JD Vance, who emphasized that any economic benefits for Iran under the recently brokered agreement would depend on Tehran's full compliance with the terms of the deal.

Vance stated that the United States would not provide direct financial assistance and that access to economic resources would be contingent upon Iran meeting its obligations.

On the Iranian side, Supreme Leader Ayatollah Mojtaba Khamenei described the agreement as conditional, noting that his approval came only after assurances that Iran's rights and the interests of the so-called resistance front would be protected.

South Korea's standout performer was SK Hynix, whose shares jumped more than 7% after the company announced it had supplied samples of its 12-layer HBM4E memory chips to key customers.

The development reinforced optimism surrounding the artificial intelligence boom and rising demand for advanced memory solutions.

Market analysts noted that expanding AI infrastructure investment is intensifying pressure on global DRAM supplies.

Industry research indicates that demand for high-bandwidth memory chips, a segment where SK Hynix maintains a leading position, continues to outpace supply as AI processor deployment accelerates worldwide.

Meanwhile, currency markets remained focused on Japan after the Japanese yen weakened beyond 161 per U.S. dollar, approaching levels not seen in nearly four decades.

The currency fell as low as 161.80 against the greenback, marking its weakest level since July 2024 and bringing it close to the 1986 lows.

The yen's depreciation has revived speculation that Japanese authorities could intervene in foreign exchange markets.

Japanese Finance Minister Satsuki Katayama recently reiterated that the government stands ready to take decisive measures against excessive speculative movements in the currency market.

On Wall Street, U.S. equities ended the holiday-shortened week on a positive note.

The S&P 500 gained 1.08% to close at 7,500.58, while the Nasdaq Composite climbed 1.91% to 26,517.93. The Dow Jones Industrial Average added 72.15 points, or 0.14%, to finish at 51,564.70, as investors reassessed expectations for future Federal Reserve policy.

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