Key Takeaways
- Taiwan’s benchmark index reached a historic record of 34,202.05 points, gaining 1.8% in a single session.
- Gold prices surged over 1% to reach $5,164.98 per ounce, while Spot Silver climbed more than 3% to $87.49, reflecting a massive flight to safe-haven assets.
- Bitcoin (BTC) slipped 5% to fall below the $65,000 threshold, as investors rotated capital out of volatile digital assets and into precious metals.
- Russia launched a significant missile and drone offensive targeting Ukraine’s energy infrastructure, causing widespread damage to the power grid.
- Major travel disruptions emerged as Delta Air Lines (DAL) faced system-wide kiosk failures and Air Canada (AC.TO) suspended flights to Puerto Vallarta.
Asian Markets Hit Record Peaks
The Taiwan benchmark index surged to an all-time high on February 23, 2026, gaining 1.8% to close at 34,202.05 points. This rally was mirrored in Hong Kong, where the Hang Seng Index gained over 2%. Market sentiment in Asia remains robust despite global geopolitical friction, driven largely by gains in the technology and industrial sectors.
Within the Hong Kong market, the Hang Seng Tech Index rose 3%, while the Hang Seng Materials Index outperformed with a 4% jump. Individual movers included CK Hutchison (0001.HK), which saw its shares gain more than 2%. The Hang Seng Automobile Index also posted a solid 2% gain, signaling broad-based strength across the region’s largest listed companies.
Precious Metals Surge as Bitcoin Falters
In a dramatic shift for the commodities market, Gold prices climbed over 1% to reach a staggering $5,164.98 per ounce. Spot Silver followed suit, jumping more than 3% to trade at $87.49 per ounce. Analysts suggest that the rapid escalation of geopolitical tensions in Eastern Europe and the Middle East is driving institutional demand for physical bullion.
Conversely, the cryptocurrency market faced significant selling pressure. Bitcoin slipped 5%, dropping below the $65,000 mark. The divergence between "digital gold" and physical gold suggests a temporary cooling of risk appetite in the crypto space as investors seek the perceived stability of traditional hard assets.
Geopolitical Tensions and Regional Stability
Geopolitical risks intensified as Kyiv reported a massive wave of Russian missile and drone attacks specifically targeting Ukraine’s energy facilities. This latest offensive has reportedly caused significant damage to the national power grid, further straining the region's infrastructure during the winter months.
In the Middle East, the Saudi Arabian Foreign Ministry issued a stern call for Iraq to uphold Kuwait’s sovereign rights and adhere to all existing international agreements. The ministry emphasized that Iraq must respect its commitments, particularly regarding maritime boundaries and sovereign rights, to maintain regional stability.
Travel and Infrastructure Disruptions
The travel sector is grappling with both technical and security-related challenges. Delta Air Lines (DAL) reported system issues affecting check-in kiosks, leading to significant delays at several major hubs. While no cancellations have been officially reported due to the glitch, the technical failure has caused widespread frustration for travelers.
Meanwhile, Air Canada (AC.TO) announced that flights to Puerto Vallarta will not operate tomorrow. This suspension follows reports of a deteriorating security situation in the region. Additionally, in the fixed-income market, the South Korean central bank sold 91-day monetary stabilization bonds at a yield of 2.505%, as regional authorities move to manage liquidity amid the shifting global economic landscape.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.