SEOUL, February 12 (AJP) – Major Asian stock markets advanced on Thursday, led by semiconductor shares after strong gains in U.S. chipmakers boosted optimism about the sector, while Japanese equities extended their rally.
Shares of U.S. memory chipmaker Micron Technology surged nearly 10 percent overnight after the company said it was supplying sixth-generation high-bandwidth memory (HBM4) chips to Nvidia without disruption, quelling speculation it had been excluded from the supply chain. The Philadelphia Semiconductor Index rose 2.3 percent.
Although the three main U.S. indexes ended slightly lower, confirmation that HBM4 has entered mass production improved sentiment toward chip stocks globally and reinforced expectations of a semiconductor upcycle.
The positive spillover lifted South Korea’s market, where heavyweight chip stocks drove the benchmark KOSPI above the 5,400 level for the first time.
As of 10: 31 a.m., Samsung Electronics rose 3.64 percent to 173,900 won ($120), while SK hynix climbed 3.26 percent to 888,000 won, leading gains in Seoul.
The KOSPI was up 2.11 percent at 5,468.56, while the tech-heavy KOSDAQ added 0.31 percent to 1,118.19.
The Korean won weakened slightly, with the dollar rising 0.80 won to 1,448.80 won.
Investor flows were mixed, with retail investors selling a net 834.7 billion won worth of shares, while foreign and institutional investors purchased a net 487.2 billion won and 341.1 billion won, respectively.
Battery maker LG Energy Solution gained 3.06 percent, while performance among other major stocks was mixed. Samsung Life Insurance rose 2.25 percent, but Samsung Biologics slipped 0.23 percent.
Automakers traded unevenly, with Hyundai Motor down 0.98 percent while affiliate Kia rose 0.68 percent. Defense-related shares softened, as Hanwha Aerospace fell 0.53 percent.
Shipbuilders advanced, with HD Hyundai Heavy Industries gaining 0.74 percent and Hanwha Ocean adding 0.77 percent.
Financial shares also extended a strong rally this month, significantly outperforming the broader market. JB Financial Group rose 4.55 percent, iM Financial Group gained 3.89 percent and Hana Financial Group added 1.43 percent.
The sector’s strength has been supported by solid earnings, expanded shareholder return policies and expectations of a valuation re-rating.
Japanese equities continued to climb, helped by expectations of renewed momentum in the so-called “Takaichi trade,” reflecting hopes of a dovish monetary stance and fiscal expansion. The Nikkei 225 rose 0.48 percent to 57,926.61 in morning trading.
Japan-focused exchange-traded funds listed in South Korea also rallied. TIGER Japan Nikkei 225 gained 8.59 percent over the past five sessions, while ACE Japan TOPIX Leverage (H) jumped 10.62 percent. Technology-focused funds also surged, with PLUS Japan Semiconductor Materials and Equipment and Midas Japan Tech Active rising 9.78 percent and 10.10 percent, respectively.
Elsewhere in the region, Hong Kong’s Hang Seng Index slipped 0.29 percent to 27,187.17, while China’s Shanghai Composite edged up 0.12 percent to 4,136.99 in morning trade.
Copyright ⓒ Aju Press All rights reserved.