Asian shares surge, led by records in Japan and South Korea, as markets regain momentum

Global shares surge, led by records in Japan and South Korea, as markets regain momentum 1 of 5 | A person walks in front of an electronic stock board at a securities firm in Tokyo Tuesday, Feb. 3, 2026. (Masanori Kumagai/Kyodo News via AP) 2 of 5 | People walk near an electronic stock board at a securities firm in Tokyo Tuesday, Feb. 3, 2026. (Masanori Kumagai/Kyodo News via AP) 3 of 5 | Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top center, and the foreign exchange rate between U.S. dollar and South Korean won, top left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, Feb. 3, 2026. (AP Photo/Ahn Young-joon) 4 of 5 | Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, Feb. 3, 2026. (AP Photo/Ahn Young-joon) 5 of 5 | Specialist Anthony Matesic works at his post on the floor of the New York Stock Exchange, Monday, Feb. 2, 2026. (AP Photo/Richard Drew) 1 of 5 A person walks in front of an electronic stock board at a securities firm in Tokyo Tuesday, Feb. 3, 2026. (Masanori Kumagai/Kyodo News via AP) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. 2 of 5 People walk near an electronic stock board at a securities firm in Tokyo Tuesday, Feb. 3, 2026. (Masanori Kumagai/Kyodo News via AP) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. 3 of 5 Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top center, and the foreign exchange rate between U.S. dollar and South Korean won, top left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, Feb. 3, 2026. (AP Photo/Ahn Young-joon) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. 4 of 5 Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, Feb. 3, 2026. (AP Photo/Ahn Young-joon) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. 5 of 5 Specialist Anthony Matesic works at his post on the floor of the New York Stock Exchange, Monday, Feb. 2, 2026. (AP Photo/Richard Drew) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] Tokyo (AP) — Global shares surged on Tuesday, led by a nearly 7% jump in South Korea’s benchmark and a 3.9% rally in Tokyo that took the Nikkei 225 to a record as investors bought tech-related shares. France’s CAC 40 gained 0.6% in early trading to 8,232.71, while the German DAX surged 1.0% to 25,053.90. Britain’s FTSE 100 rose 0.2% to 10,361.21. The future for the S&P 500 was up 0.3% while that for the Dow Jones Industrial Average rose 0.1%. Markets are awaiting earnings reports from major companies to gauge the impact of various trends including U.S. President Donald Trump’s tariffs and possible curbs on rare earths exports from China.Japan’s benchmark Nikkei 225 climbed 3.9% to finish at 54,720.66, its highest close ever. Shares in equipment maker Disco Corp. jumped 7.4% while those in testing equipment maker Advantest gained 7.1%. Share prices have been boosted by expectations that Prime Minister Sanae Takaichi’s Liberal Democratic Party will regain a significant majority in the parliament in a Feb. 8 election, ushering in more market-friendly policies. Some analysts warn the Japanese yen may weaken further if Takaichi boosts government spending, presenting hardships for consumers and some companies. In South Korea, the Kospi gained 6.8% to 5,288.08, also a record. Investors appeared to regain confidence after the latest scare over a possible bubble in artificial intelligence as shares in Samsung Electronics Co. soared 11.4% while those in chip maker SK Hynix rocketed up 9.3%. Hong Kong’s Hang Seng gained 0.2% to 26,834.77, while the Shanghai Composite added 1.3% to 4,067.74. Australia’s S&P/ASX 200 edged up 0.9% to 8,857.10. Australia’s central bank raised its benchmark policy rate for the first time in two years, citing higher inflation than anticipated before it last cut rates. On Monday, the S&P 500 added 0.5%, snapping a three-day losing streak. The Dow industrials rose 1.1% and the Nasdaq composite gained 0.6%. Gold gained 6.7% on Tuesday, while silver’s price rebounded nearly 14%. Gold and silver prices have surged as investors search for safer things to own at a time of uncertainty over the status of the Federal Reserve, which may be set to become less independent, a U.S. stock market that critics say is expensive, threats of tariffs and heavy debt loads for governments worldwide.Their prices cratered on Friday, including a 31.4% plunge for silver. Some on Wall Street saw it as a result of President Donald Trump’s nomination of Kevin Warsh as the next chair of the Fed. The Fed’s chair has a big influence on the economy and markets worldwide by helping to dictate where the U.S. central bank moves interest rates. That affects prices for all kinds of investments, as the Fed tries to keep the U.S. job market humming without letting inflation get out of control.In other dealings early Tuesday, benchmark U.S. crude fell 4 cents to $62.10 a barrel. Brent crude shed 13 cents to $66.17 a barrel. The U.S. dollar declined to 155.52 Japanese yen from 155.61 yen. The euro cost $1.1819, up from $1.1791. ___Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama Kageyama covers Japan news for The Associated Press. Her topics include social issues, the environment, businesses, entertainment and technology.