Asian markets slip, Kospi rallies 2% on chip gains

August 18, 2026 (MLN): Asian markets traded mostly lower on Tuesday, with South Korean stocks standing out after returning to trading following a public holiday.

South Korea’s Kospi surged around 2%, supported by strong performances from major chipmakers Samsung Electronics and SK Hynix, which gained about 3% and 5%, respectively, according to CNBC.

Japan’s Nikkei 225 declined 0.9%, while the broader Topix fell 0.28%. Australia’s S&P/ASX 200 was little changed at the open.

Hong Kong’s Hang Seng Index slipped 0.19%, while mainland China’s CSI 300 declined 0.12%.

U.S. stock futures remained near flat overnight after Wall Street ended Monday’s session lower amid persistent U.S.-Iran tensions and renewed concerns over inflation and Treasury yields.

Dow futures fell 25 points, while S&P 500 and Nasdaq-100 futures edged lower.

Oil prices climbed more than 2% as uncertainty surrounding the U.S.-Iran ceasefire weighed on investor sentiment. Negotiations between the two countries have stalled, while remarks from U.S. President Donald Trump further heightened concerns over tensions in the region.

Higher oil prices also intensified inflation worries, pushing longer-term Treasury yields higher. The 30-year U.S. Treasury yield climbed to its highest level since June 2007.

On Wall Street, the Dow Jones Industrial Average and S&P 500 each declined 0.5%, while the Nasdaq Composite fell 0.3%.

Investors will now focus on U.S. import and export price data for July, housing starts and pending home sales. Home Depot is also scheduled to release its second-quarter earnings before the market opens.

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