SEOUL, May 27 (AJP) - South Korean and Japanese equities surged Wednesday while most other Asian markets moved sideways, highlighting the widening divergence in the region’s AI-driven rally.
The KOSPI emerged as the standout performer, briefly topping the 8,400 level a day after entering the new four-digit era, as South Korea became home to two $1 trillion listed companies. As of 11:08 a.m., Seoul’s benchmark index was up 4.29 percent at 8,391.53, while the junior KOSDAQ slipped 0.87 percent to 1,162.36.
Japan’s Nikkei 225 climbed 1.34 percent to 65,866.82 as semiconductor and AI-related shares tracked overnight gains on Wall Street. In contrast, Chinese and Hong Kong equities were little changed. Hong Kong’s Hang Seng Index fell 0.11 percent to 25,571.09, while China’s Shanghai Composite edged down 0.03 percent to 4,144.06.
Overnight in the United States, Micron Technology surged nearly 20 percent, briefly pushing its market capitalization above the $1 trillion mark, while the Philadelphia Semiconductor Index jumped 5.53 percent as gains spread broadly across chipmakers. UBS also sharply raised its target price on Micron, citing a strengthening memory-chip cycle.
U.S. equities were additionally supported by easing Treasury yields and lower oil prices. The S&P 500 rose 0.61 percent and the Nasdaq advanced 1.19 percent to fresh record highs, while the Dow Jones Industrial Average slipped 0.23 percent.
In Seoul, memory giants Samsung Electronics and SK hynix powered the KOSPI higher even as declining issues outnumbered gainers 803 to 97.
Investor sentiment toward Samsung Electronics improved after 73.7 percent of union members voted to approve the company’s tentative wage agreement, with turnout reaching 95.5 percent. Shares in Samsung Electronics rose 7.02 percent to 320,000 won.
SK hynix surged 10.38 percent to 2,265,000 won, lifting the chipmaker above the $1 trillion market-cap threshold for the first time. The company became the third Asian firm after TSMC and Samsung Electronics to join the trillion-dollar club.
At current prices, SK hynix ranks 12th globally with a market capitalization of roughly 1,598 trillion won ($1.06 trillion), surpassing Berkshire Hathaway, Micron and Eli Lilly. SK hynix and Samsung Electronics are now the only two Korean firms among the world’s 14 listed companies valued above $1 trillion.
SK Square also jumped 9.82 percent as investors continued pouring into AI-linked semiconductor plays.
Samsung affiliates advanced broadly, with Samsung Electro-Mechanics rising 4.45 percent, Samsung C&T gaining 4.50 percent and Samsung Life Insurance adding 4.60 percent.
Defense and aerospace shares were mixed. Hanwha Aerospace rose 0.80 percent, while shipbuilder HD Hyundai Heavy Industries slipped 1.74 percent.
By contrast, several automaker, battery and biotech shares underperformed. Hyundai Motor fell 1.45 percent, Kia lost 1.86 percent and LG Energy Solution declined 1.50 percent. Samsung Biologics also dropped 1.75 percent.
The weaker showing on the KOSDAQ reflected mixed trading across biotech, battery and semiconductor-equipment shares despite gains in select pharmaceutical names.
EcoPro BM rose 1.59 percent and EcoPro gained 2.45 percent, while biotech heavyweight Alteogen surged 7.66 percent. Peptreon climbed 6.84 percent and LigaChem Biosciences jumped 10.12 percent.
Other biotech and equipment shares also advanced, with Koh Young Technology rising 4.31 percent, Sam Chun Dang Pharm gaining 0.97 percent, HLB adding 0.95 percent and Abeona Bio climbing 4.68 percent. Ju Sung Engineering edged up 0.85 percent.
Meanwhile, robotics and chip-equipment stocks weakened. Rainbow Robotics fell 1.94 percent, EO Technics declined 3.47 percent, Wonik IPS dropped 5.66 percent and Leeno Industrial slid 7.31 percent.
The rally remained heavily concentrated in semiconductor and AI-related heavyweights, underscoring the market’s continued dependence on a narrow group of AI beneficiaries.
The Korean won traded little changed in early trading, with the dollar quoted at 1,504.60 won versus the previous session’s close of 1,504.30 won.
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