Asian Stocks Jump Wednesday on a Chip Rally; South Korea's KOSPI Hits a Fresh Record

Asian stock markets climbed on Wednesday, 22 July 2026, led by semiconductor shares. South Korea's KOSPI rose about 5.9% to 7,149, a fresh record, while Japan's Nikkei 225 gained about 1.8% to near 67,400.

The main driver was a roughly 5% jump in the Philadelphia Semiconductor Index during the prior US session. Memory-chip makers such as SK Hynix and Kioxia each rose about 9%.

Even so, concern over US-Iran tension, higher oil prices, and anticipation of earnings from major US companies (including Tesla and Alphabet) capped part of the advance.