Korea Composite Stock Price Index hits a record high, Asia-Pacific stock markets generally rise

CycleProphet · 2026-02-23T01:24:46+00:00

Affected by Trump's announcement of a global tariff increase to 15%, the Asia-Pacific stock markets generally rose, with South Korea's KOSPI reaching a record high. The U.S. Supreme Court ruling invalidated a large number of tariffs but did not change the overall tariff framework. U.S. stocks also closed higher across the board following the Supreme Court decision.

CycleProphet

2026-02-23 01:24:46

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Deep Tide TechFlow News, February 23 — According to CNBC, following the announcement by Trump to raise global tariffs from 10% to 15%, Asian-Pacific stock markets generally rose on Monday. The Korea Composite Stock Price Index (KOSPI) increased for the third consecutive trading day, rising 1.7% to a record high, with heavyweight stocks SK Hynix and Samsung Electronics up more than 3% and 2%, respectively. The Australian S&P/ASX 200 index edged up 0.17%, while markets in China and Japan were closed for holidays.

The tariff increase occurred after the U.S. Supreme Court ruled to overturn the broad tariffs implemented by Trump under the International Emergency Economic Powers Act (IEEPA) of 1977. Rystad Energy Chief Economist Claudio Galimberti noted that while the Supreme Court’s decision invalidates many existing tariffs and weakens the ability to tax specific countries, it does not dismantle the broader tariff framework. If tariffs reach the cap without IEEPA exemptions, the average tax rate could even be higher than the previously overturned plan.

Last Friday, boosted by the Supreme Court ruling, U.S. stocks closed higher across the board, with the S&P 500 rising 0.69%, the Nasdaq Composite up 0.9%, and the Dow Jones Industrial Average gaining 230.81 points, or 0.47%.

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