South Korea\'s KOSPI closed at 5,808.53, up 2.31 percent, after topping 5,700 for the first time and briefly touching 5,809.91. Brokerage stocks led gains as January average daily trading value hit a record 62.3 trillion won and recently expanded to about 80 trillion won. The KRX securities index rose 43.0 percent last month and was up 74.26 percent year-to-date through Feb. 13. Analysts cited higher brokerage earnings leverage, shareholder return expectations and policy catalysts, while warning of volatility and property PF risks.

Shinhan Investment & Securities said on Wednesday it signed an MOU with Nextrade and seven fractional investment firms as the Nextrade (NXT) consortium secured preliminary approval for an over-the-counter fractional investment exchange. The agreement aims to build a value chain covering issuance, distribution and settlement for a planned distribution market. The nine participating companies also plan joint reviews of business models, responses to legal and institutional changes, and joint promotion.