SEOUL, March 16 (AJP) -Asian stock markets diverged Monday as oil prices climbed above $100 in response to tensions around the Strait of Hormuz.
With investors weighing energy risks and global demand signals, Japan and China edged lower, while Korea bucked the regional trend on strong semiconductor gains.
Brent crude rose 1.6 percent to $104.83 a barrel and West Texas Intermediate crude gained 0.6 percent to $99.30, keeping energy security concerns at the center of regional trading as the Iran conflict entered its third week.
Despite the uncertainty, broader risk sentiment showed some stability. S&P 500 futures and Nasdaq 100 futures both rose about 0.7 percent, while the U.S. 10-year Treasury yield slipped to 4.265 percent and the dollar index edged down 0.1 percent to 100.31.
Japan’s Nikkei 225 closed down 0.13 percent at 53,751.15 as investors remained cautious following recent volatility tied to energy markets. China’s Shanghai Composite slipped 0.4 percent to 4,079.43, while Hong Kong’s Hang Seng Index traded about 1.4 percent higher in late dealings.
In Seoul, the KOSPI rose 1.14 percent to close at 5,549.85, reversing early volatility as gains in Samsung Electronics and SK hynix offset weakness in other sectors. The index had opened 0.43 percent higher at 5,510.82 and swung between a high of 5,561.42 and a low of 5,448.75 during the session.
Foreign investors remained heavy sellers, offloading 848.1 billion won ($567 million) worth of shares, while individuals purchased 717.5 billion won and institutions added 89.7 billion won.
Technology stocks led the advance.
SK hynix surged 7 percent to 974,000 won, while Samsung Electronics gained 2.83 percent to close at 188,700 won as investors continued positioning for strong demand tied to artificial intelligence infrastructure.
Elsewhere in the market, automakers weakened, with Hyundai Motor falling 2.1 percent to 506,000 won. Platform and biotech shares also declined, with NAVER dropping 2.3 percent to 218,000 won, Samsung Biologics losing 1.5 percent to 1,568,000 won and Celltrion sliding 2.7 percent to 200,000 won.
Defense stocks were slightly softer despite persistent geopolitical tensions, with Hanwha Aerospace edging down 0.8 percent to 1,476,000 won.
The tech-heavy KOSDAQ index underperformed, falling 1.27 percent to 1,138.29 as foreign and institutional investors turned net sellers.
Individuals bought 712.5 billion won worth of shares on the KOSDAQ. Foreign investors, meanwhile, sold 499.4 billion won and institutions offloaded 171.8 billion won.
Currency markets showed some stabilization after earlier volatility.
The Korean won remained close to crisis levels, trading at 1,496.7 per dollar on suspected intervention after it tumbled below 1,500 won for the first time in daytime session.
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