SEOUL, December 23 (AJP) - Asian equity markets opened Tuesday on a fragmented footing, as the first session of the traditional five-day “Santa rally” window failed to deliver a uniform year-end surge. With momentum cooling after recent gains, investors across the region adopted a wait-and-see stance.
In Seoul, the benchmark KOSPI rose 0.57 percent to 4,129 as of 10:45 a.m., extending gains for a second day after Monday’s 2 percent rally.
Foreign and institutional investors led the advance, with overseas funds net buying 227.4 billion won ($153.2 million) and institutions adding 302.0 billion won. Retail investors, meanwhile, locked in profits, selling a net 497.0 billion won.
Despite solid equity inflows and a mild retreat in the dollar index, the Korean won weakened to 1,484 per dollar, down 3.2 won, breaching the 1,480-level that many traders view as a key psychological support level. Markets remained focused on the timing of potential currency-hedging operations by the National Pension Service and further foreign-exchange stabilization signals from authorities.
Blue-chip technology stocks tracked higher. Samsung Electronics gained 1.5 percent to 112,000 won, while SK hynix rose 1.6 percent to 590,000 won, supported by strong earnings from U.S. peer Micron Technology and continued optimism over HBM4 development.
Shipbuilding and defense stocks outperformed. Hanwha Ocean surged 9 percent to 119,700 won after reports that Donald Trump announced plans to collaborate with the company on U.S. domestic frigate construction. Defense-linked Hanwha Systems climbed 3.5 percent to 58,800 won.
In contrast, the tech-heavy KOSDAQ slipped 0.7 percent to 922, pressured by a 157.0 billion won net sell-off by foreign investors.
Aerospace stocks were hit hard, reversing gains driven by earlier SpaceX-related speculation. InnoSpace plunged 27 percent to 11,000 won after its HANBIT-Nano launch vehicle failed its mission, while satellite firm Nara Space Technology tumbled 23 percent to 35,500 won.
In Japan, the Nikkei 225 was little changed at 50,376, as investors paused after recent advances. Automakers edged lower, with Toyota Motor down 0.3 percent and Honda Motor slipping 0.2 percent, weighed by lingering rate-hike effects and a lack of fresh catalysts.
Japanese semiconductor stocks saw profit-taking, with Advantest down 2.2 percent and Tokyo Electron off 0.9 percent. Financials, however, extended gains on higher-rate expectations, as Mitsubishi UFJ Financial Group rose 0.9 percent and Mizuho Financial Group added 1.3 percent.
Taiwan’s TAIEX advanced 0.5 percent to 28,290, led by a 1 percent gain in TSMC and a 0.65 percent rise in Foxconn.
Mainland China markets were flat, with the Shanghai Composite at 3,922 and the Shenzhen Component at 13,356. Hong Kong’s Hang Seng Index was also little changed at 25,829, reflecting the region’s cautious tone.
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