Despite missing out on the record-breaking initial public offering (IPO), South Korean investors continued betting on artificial intelligence (AI), aerospace, and other growth sectors. Japan’s main index, meanwhile, briefly crossed the 70,000 mark for the first time.
In Tokyo, the Nikkei 225 edged up 0.13 percent to 69,404.50 after briefly topping the 70,000 mark and setting an all-time high. The move came after the Bank of Japan voted 7-1 to raise its benchmark policy rate to 1 percent, the highest level since 1995.
In Seoul, the benchmark KOSPI closed up 2.11 percent at 8,726.60 points, building on the previous session's gains as easing geopolitical tensions lowered oil prices and improved sentiment toward risk assets across Asia.
The junior KOSDAQ, however, moved in the opposite direction, falling 1.48 percent to 1,018.68 as investors continued rotating away from smaller growth stocks into large-cap market leaders.
In the currency market, the South Korean won weakened slightly against the U.S. dollar, closing at 1,511.6 won.
SpaceX's blockbuster Nasdaq debut remained in focus. The stock closed at US$192.50 on Monday, up 42.6 percent from its IPO price of $135, lifting its market capitalization to about $2.5 trillion and making it the world's sixth-most valuable company.
The company’s rapid rise has boosted investor interest in its long-term growth prospects. Global retail demand exceeded $100 billion, with Japan receiving about $2.2 billion worth of share allocations. South Korean investors, however, were left empty-handed after shares initially earmarked for Mirae Asset Securities were withdrawn in the final allocation process.
Samsung Electronics rose 1.78 percent to 343,000 won, while SK hynix climbed 4.11 percent to 2,382,000 won, SK Square surged 6.23 percent to 1,501,000 won, making it one of the strongest performers among large-cap stocks.
The buying extended beyond technology into aerospace and defense. Hanwha Aerospace delivered one of the strongest gains of the day, jumping 9.13 percent to 1,183,000 won as investors continued betting on long-term growth in the global aerospace and defense industries.
Banking-related shares also attracted investors after data showed lending grew sharply last month, raising hopes for stronger earnings. According to the Bank of Korea, household loans at commercial banks including mortgages, increased by 6.9 trillion won in May to 1,181.8 trillion won, marking the biggest monthly increase since August 2024.
KB Financial Group rose 1.42 percent to 172,000 won after earlier touching a record high of 182,700 won during intraday trading. Other major lenders followed suit, with Shinhan Financial Group up 1.04 percent to 106,700 won, and Hana Financial Group climbing 2.09 percent to close at 132,000 won.
The gains in Korea and Japan mirrored a strong overnight rally on Wall Street, where investors welcomed signs of easing tensions between the United States and Iran. Lower oil prices and fading geopolitical risks boosted appetite for technology and growth stocks globally.
The Dow Jones Industrial Average rose 0.92 percent, the S&P 500 gained 1.65 percent, while the Nasdaq Composite surged 3.07 percent. The Philadelphia Semiconductor Index jumped 5.45 percent, reinforcing optimism toward chipmakers and artificial intelligence-related shares across Asia.
However, not all Asian markets responded the same way.
China's Shanghai Composite was little changed, slipping 0.11 percent to 4,091.89.
Yet beneath the flat headline index, investors continued pouring money into strategic industries. Xiamen Tungsten hit the daily limit of 10 percent as investors bet on rising demand for strategic metals essential to semiconductors and high-tech industries, while optical technology company Focuslight Technologies gained nearly 4 percent.
Hong Kong's Hang Seng Index underperformed regional peers, falling 1.68 percent to 24,424.27.
Copyright ⓒ Aju Press All rights reserved.