SEOUL, April 06 (AJP) - Asian equities rose modestly Monday as investors weighed conflicting signals from the Middle East, with U.S. President Donald Trump setting an April 7 deadline ahead of potential strikes on Iranian power grids while OPEC+ pledged a limited output increase, as tech-heavy Korea and Japan outperformed ahead of strong semiconductor earnings.
Japan’s Nikkei 225 gained 1.15 percent to 53,733.44, while Korea’s KOSPI advanced 1.4 percent to 5,452.80.
Chinese markets were closed for the Qingming Festival holiday, and Hong Kong’s Hang Seng Index was shut for Easter.
The secondary KOSDAQ initially rose 0.71 percent but later reversed course, slipping 0.29 percent to 1,060.71.
Oil market concerns eased slightly after OPEC+ agreed to raise output by 206,000 barrels per day from May.
The increase, however, represents less than 2 percent of the estimated disruption linked to the Strait of Hormuz, where more than 12 million barrels per day have been affected, according to the International Energy Agency.
While the scale suggests limited immediate relief, the move signaled producers’ willingness to stabilize markets, lending modest support to risk sentiment.
Semiconductor stocks led gains in Seoul.
Samsung Electronics rose 3.49 percent to 192,700 won ahead of its preliminary first-quarter earnings release on Tuesday, with expectations that quarterly operating profit could approach or exceed last year’s full-year level of 43.6 trillion won amid the ongoing memory chip boom.
Consensus estimates compiled by FnGuide put operating profit at around 38 trillion won.
SK hynix also climbed 2.05 percent to 894,000 won, with Shinhan Securities forecasting first-quarter revenue at 50.4 trillion won, up 53.5 percent from the previous quarter, and operating profit at 35.5 trillion won, up 85.1 percent.
Othe large-cap stocks were mixed. Hyundai Motor fell 0.32 percent, while Kia rose 1.00 percent and Hyundai Mobis edged down 0.26 percent.
Defense and shipbuilding shares showed limited direction. Hanwha Aerospace slipped 0.55 percent, Hanwha Ocean fell 1.33 percent, and Hyundai Heavy Industries edged up 0.10 percent.
Biopharmaceutical shares posted modest gains despite emerging trade risks.
Samsung Biologics rose 0.39 percent and Celltrion gained 0.31 percent after the United States announced new tariff measures targeting patented pharmaceuticals under Section 232 of the Trade Expansion Act.
The measures include tariffs of up to 100 percent on certain patented drugs and ingredients, with implementation scheduled from late July through September. However, products from countries with trade agreements — including Korea — will face a reduced tariff of around 15 percent.
Generic drugs and biosimilars, along with related materials, are exempt from tariffs for one year, limiting the near-term impact.
Financial stocks also edged higher. KB Financial Group rose 0.21 percent, Shinhan Financial Group gained 0.87 percent, and Samsung Life Insurance advanced 1.36 percent.
On the KOSDAQ, Samchundang Pharm surged 5.40 percent after its largest shareholder withdrew a planned block deal, easing concerns over a potential large share sale and addressing doubts over the scale of its U.S. supply contract.
The won remained relatively stable, with the dollar trading at 1,508.80 won, compared with 1,505.2 won at Friday’s close.
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