SEOUL, December 10 (AJP) - Asian markets moved cautiously on Wednesday as investors held their breadth ahead of the U.S. Federal Open Market Committee decision, due at 6 a.m. Thursday Korean Standard Time, leaving the region in a subdued holding pattern for clues on next year’s rate path.
The Korean won was steady at 1,469 per dollar as of 10:50 a.m., with traders perplexed by speculation that the National Pension Service may issue foreign currency–denominated bonds as part of a won–dollar hedging strategy.
The KOSPI slipped 0.2 percent to 4,135 in a classic wait-and-see stance ahead of the Fed. Foreign investors were net buyers of 48.8 billion won ($33.2 million), while retail investors sold 46.5 billion won and institutions offloaded 9.2 billion won.
SK hynix climbed 2.3 percent to 580,000 won after reports it may pursue an American Depositary Receipt listing using its treasury shares, while Samsung Electronics moved the other way, falling 0.65 percent to 107,700 won as foreign-led profit-taking weighed on the stock.
Battery names also rallied. Samsung SDI rose 2.9 percent to 319,000 won after securing a 2 trillion won contract to supply lithium iron phosphate (LFP) batteries for energy storage systems to a U.S. energy infrastructure company. Entertainment stocks saw a rare lift, with HYBE up 5 percent at 306,000 won on expectations of full-group BTS activity in 2026.
Hyundai Motor Group shares were mostly weak. Hyundai Motor lost 2.3 percent to 300,000 won, and Hyundai AutoEver slipped 1.3 percent to 297,500 won. The tech-heavy KOSDAQ traded sideways near 932, with retail investors net buying 143 billion won, while foreigners sold 64 billion won and institutions 48 billion won.
Japan’s Nikkei 225 was flat at 50,690 as investors likewise avoided directional bets before the FOMC outcome. A rotation into defensive consumer names lifted automakers: Toyota gained 1.8 percent to 3,120 yen ($19.9) on strong North American hybrid sales, while Honda surged 4.3 percent to 1,590 yen. Semiconductor stocks were softer, with Advantest down 0.75 percent at 20,105 yen, Tokyo Electron 0.2 percent lower at 33,520 yen, and Ibiden and Kioxia each down 0.45 percent.
Taiwan’s TAIEX edged 0.5 percent higher to 28,315, supported by modest gains in semiconductor bellwethers. TSMC rose 0.7 percent to 1,490 Taiwan dollars ($47.8), while MediaTek advanced 0.7 percent to 1,430 Taiwan dollars.
Across the Strait, Chinese equities opened lower after CPI data released just before the bell came in far below expectations, renewing concerns about persistent disinflation. The Shanghai Composite fell 0.55 percent to 3,888, slipping below the 3,900 threshold. The Shenzhen Component dropped 0.75 percent to 13,171, and Hong Kong’s Hang Seng Index declined 0.6 percent to 25,285.
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