SEOUL, February 06 (AJP) - The Tokyo bourse held firm on Friday amid a broad retreat across Asia, as foreign investors trimmed exposure following a U.S. technology-sector scare.
Japan’s Nikkei 225 rose 0.8 percent to close at 54,253.7, as sentiment steadied ahead of a pivotal snap election this weekend. Japanese voters head to the polls on Sunday, with the outcome expected to shape economic and security policy in the world’s third-largest economy and a key U.S. ally in Asia.
Prime Minister Sanae Takaichi called the election to consolidate her grip on power, and opinion polls suggest her ruling bloc is on track to prevail, potentially reinforcing her stimulus-driven economic agenda.
In contrast, South Korean stocks extended their recent pullback. The benchmark KOSPI fell 1.4 percent to 5,089.1, rebounding from an intraday low of 4,890 after earlier losses of more than 4 percent triggered a second sell-side sidecar this week.
The index has shed more than 10 percent this week, marking the largest foreign-led profit-taking after monthlong rally.
Investor flows were sharply divided. Foreign investors dumped 3.32 trillion won ($2.27 billion), while institutions bought 960.4 billion won. Retail investors stepped in with net purchases of 2.17 trillion won, helping to limit losses near session lows.
Market weakness reflected renewed caution toward global risk assets, following overnight softness in overseas markets and lingering uncertainty over technology earnings and policy direction. Losses spread across major sectors, particularly automobiles, internet platforms and shipbuilding.
Heavyweights declined on the main board. Samsung Electronics slipped 0.4 percent to 158,600 won, while SK hynix also fell 0.4 percent to 839,000 won. Hyundai Motor dropped 4.3 percent, NAVER retreated 3.1 percent, and Hanwha Ocean slid 3.7 percent, extending losses in shipbuilding shares.
Amid the broad selloff, energy equipment and services stocks emerged as a rare pocket of strength, with the sector rising 5.4 percent, the best-performing industry of the session.
Hanwha Solutions surged 15.4 percent to 42,000 won after announcing a financial cooperation agreement with Shinhan Bank to support solar development projects and expand its renewable energy value chain in North America. The move underscored sustained investor interest in energy-transition themes despite overall market weakness.
Other gainers included Hurim Robot, up 3.1 percent, Celltrion, which rose 1.2 percent, and Hanmi Semiconductor, up 1.3 percent.
The tech-heavy KOSDAQ underperformed, sliding 2.5 percent to 1,080.8. Foreign investors bought 66.0 billion won, while institutions sold 165.5 billion won. Retail investors added 148.2 billion won, pointing to selective dip-buying amid heightened volatility.
In currency markets, the won was little changed at 1,468.8 per dollar. Precious metals moved in opposite directions, with domestic gold prices rising 1.36 percent to 228,796.40 won per gram, while silver slid 9.10 percent to $76.71 per troy ounce, reflecting continued liquidation pressure in parts of the commodities market.
Elsewhere in Asia, markets were mixed. China’s Shanghai Composite slipped 0.3 percent to 4,065.6, while Hong Kong’s Hang Seng Index was down about 1 percent in late trading, underscoring persistent regional caution.
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