In Seoul, the KOSPI slipped 0.2 percent to 4,135.00, extending its decline for a second session this week, while the KOSDAQ gained 0.4 percent to 935.00. Institutional investors unloaded 344.3 billion won ($234 million), offset by 296.4 billion won in foreign buying and 18.6 billion won from retail investors.
Samsung Electronics fell 0.4 percent to 108,000 won ($73.4), but SK hynix jumped 3.7 percent to 587,000 won as foreign investors piled in following reports that the chipmaker is considering listing its treasury shares as American depositary receipts in the United States. An ADR allows U.S. investors to trade foreign stocks through certificates issued by a U.S. depository institution.
Samsung SDI added 2.4 percent to 317,500 won after reports it had secured a battery supply deal worth about 2 trillion won ($1.36 billion) in the U.S. But most other large caps weakened. LG Energy Solution slipped 0.5 percent to 441,500 won, Hyundai Motor fell 1.5 percent to 302,500 won, HD Hyundai Heavy Industries eased 1 percent to 571,000 won, Hanwha Aerospace sank 3.9 percent to 923,000 won and Naver dropped 1.4 percent to 244,500 won.
Entertainment stocks rose across the board, with HYBE up 2.8 percent to 299,000 won, SM Entertainment up 2.2 percent to 103,800 won, JYP Entertainment gaining 0.2 percent to 67,900 won and YG Entertainment rising 0.7 percent to 62,200 won.
The Fed is widely expected to cut its target rate range — now at 3.75 percent to 4.00 percent — by 25 basis points.
Japan’s Nikkei 225 inched down 0.1 percent to 50,602.80. Toyota Motor rose 1.6 percent to 3,116 yen ($19.9), while Honda Motor climbed 3.3 percent to 1,575.5 yen. But most other market heavyweights slipped: Mitsubishi UFJ Financial Group fell 0.7 percent, SoftBank Group lost 0.7 percent, Sony Group dropped 2.9 percent and Hitachi dipped 0.5 percent. Nintendo retreated 2.7 percent, while Canon gained 2.1 percent.
Bloomberg reported that Osaka — Japan’s second-largest economic hub and long a beneficiary of Chinese tourist inflows — is now facing sharp fallout from the slump in Chinese visitors. The Osaka Convention & Tourism Bureau said hotel cancellation rates have reached 50 to 70 percent, with Namba, the city’s main entertainment district, hit the hardest. Luxury spending by Chinese tourists is projected to fall to $40 million to $60 million per month, about half previous levels.
China’s Shanghai Composite Index edged down 0.2 percent to 3,900.50.
Nomura’s chief China economist Ting Lu warned this week that Beijing must face the depth of its property-sector debt woes as export growth is expected to slow to around 4 percent next year. Lu expects the government to lower its official growth target from about 5 percent to 4.5–5.0 percent in 2026. Nomura projects China’s GDP will expand 4.3 percent in 2026.
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