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A Greenlandic flag flutters proudly over a residential home in Nuuk, Greenland, captured in an image on January 21, 2026. This serene scene stands in contrast to recent geopolitical tensions that have captured global attention.
In a surprising turn of events, Asian markets experienced a notable rebound following an announcement from U.S. President Donald Trump. At the World Economic Forum in Davos, Trump alleviated fears of economic strain by retreating from his earlier threats to impose tariffs on European nations concerning Greenland. His remarks brought a sense of relief to investors, who had been bracing for potential trade disruptions.
Furthermore, Trump eased concerns of military conflict by clearly stating that the United States would not resort to force in acquiring the Arctic island. Instead, he emphasized having developed “the framework of a future deal with respect to Greenland,” in collaboration with NATO Secretary General Mark Rutte. This diplomatic approach has helped to stabilize the situation momentarily.
Following these developments, the Kospi index saw a rise of 0.87%, momentarily breaching the 5,000 mark before settling at 4,952.53. Meanwhile, the small-cap Kosdaq index also fared well, climbing 2% to close at 970.35.
Several key companies in the region benefited from the market’s optimism. Samsung SDI, a leader in battery manufacturing, saw its shares soar by 18.67%. Conglomerate Doosan enjoyed a 9.09% gain, and tech giant Samsung Electronics experienced a 1.87% increase. These gains reflect a broader sense of relief and confidence among investors, sparked by the easing of U.S.-European tensions over Greenland.
Battery maker Samsung SDI soared 18.67%, while conglomerate Doosan gained 9.09%, and heavyweight Samsung Electronics climbed 1.87%.
The country’s economy unexpectedly shrank 0.3% on a quarterly basis in the October to December period, its sharpest contraction since 2022.
Gross domestic product grew 1.5% year on year, while full-year economic growth slowed to 1%, the weakest since 2020, when output contracted 0.7% during the pandemic.
Elsewhere in the region, Japan’s Nikkei 225 was up 1.73% and ended at 53,688.89, snapping its five-day losing streak, while the broad-based Topix rose 0.74% to 3,616.38.
Japan saw its December trade figures released today, with the 5.1% export growth missing Reuters-polled analysts’ estimates.
Chinese markets saw softer gains, with Hong Kong’s Hang Seng index climbing marginally in its final hour and the CSI 300 index on mainland China climbing 0.01% to 4,723.71.
Australia’s S&P/ASX 200 was up 0.75% and finished at 8,848.7, after falling in the previous session.
