Biotech and Asia Lead Gains — Moderna Up 16%, KOSPI Soars 11%
Global markets rebounded as risk sentiment improved, with the Nasdaq Composite rising 1.29% and South Korea's KOSPI Composite Index surging 11%. China's yuan strengthened after a stronger policy midpoint.
Today's Snapshot
- Nikkei 225: 54,245.54 (+1,305 pts, +2.40%)
- Nasdaq Composite: 22,516.69 (+290.79 pts, +1.29%)
- KOSPI: 5,093.54 (+237 pts, +11%)
- Gold: $5,141.31/oz (+0.22%)
- Silver: $83.53/oz (−0.87%)
Global Markets
(A) Precious Metals
Gold: $5,141.31/oz (+0.22%) — Remained elevated as geopolitical risks and energy supply uncertainty sustained safe-haven demand.
Silver: $83.53/oz (−0.87%) — Edged lower as investors took profits following the metal's robust rally earlier in the week.
(B) Foreign Exchange
Dollar Index (DXY): ~98.8 (−0.15%) — The U.S. dollar eased slightly as improving risk sentiment reduced safe-haven currency demand.
USD/CNY — The Chinese yuan strengthened after the People's Bank of China set the USD/CNY midpoint at 6.9007 — the strongest level in nearly three years — signaling stabilization efforts.
Stock Market
United States
Nasdaq Composite: 22,516.69 (+1.29%)
The tech-heavy index rose as investors returned to technology stocks after recent volatility eased. Markets stabilized amid calming geopolitical tensions, and growth stocks rebounded.
Major Movers:
- Tesla (TSLA) +3.4% — Bank of America upgraded to "Buy" citing robotaxi growth, self-driving software, and Optimus robot prospects, with a $460 price target implying ~14% upside.
- Moderna (MRNA) +15.99% — Surged following the settlement of a patent dispute with Arbutus Biopharma and Genevant Sciences. Moderna will pay $950 million to end global lawsuits; no future royalties owed for Spikevax and mRESVIA vaccines.
- Nvidia (NVDA) +1.66% — Billionaire investor Leo KoGuan announced purchasing 1 million shares worth ~$180 million, demonstrating confidence in AI growth. He indicated possible purchase of another 1 million shares soon.
Korea
KOSPI: 5,093.54 (+237 pts, +11%)
Major Movers:
- Korean Air (003490.KS) +7.2% — Rose after announcing plans to raise up to $307 million through bond issuance in Q1 2026 to strengthen finances and support operations.
- LG Energy Solution +6.91% — Shares rebounded as battery and EV supply chain stocks recovered from the previous day's sell-off.
Volatility & Positioning
The CBOE Volatility Index (VIX) eased toward the low-20s, signaling slightly lower market stress.
What Traders Are Watching
- Whether global equities can sustain their rebound following the recent geopolitical shock.
- Gold maintaining levels above $5,000/oz as safe-haven demand persists.
- Oil prices and energy supply risks stemming from ongoing Middle East tensions.
“Risk comes from not knowing what you're doing.”
Yesterday's Market News — March 4, 2026
Markets turned defensive as escalating Middle East tensions pushed oil above $80/bbl, raising inflation fears. Global stocks fell, the VIX jumped above 23, and the Indian rupee weakened to a record 92 per dollar, while safe-haven demand lifted gold about 1.5% and silver more than 3%.
Read full recap →Sources
- Reuters — Global Markets & Commodities
- Bloomberg — Markets News (Nvidia investor story)
- Reuters — China Yuan Midpoint / FX Markets
- Investopedia — Tesla upgraded to Buy by Bank of America
Disclaimer
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