SEOUL, June 17 (AJP) - South Korea's benchmark KOSPI extended its gains Wednesday as investors rotated into semiconductors, power-cable shares and biotechnology, even as foreign investors turned heavy sellers on the main bourse.
The benchmark KOSPI closed up 1.6 percent at 8,864.24, after moving between an intraday high of 8,872.18 and a low of 8,605.66. Foreign investors sold 1 trillion won worth of shares on the main bourse, while institutions bought 581.9 billion won ($384.9 million) and retail investors purchased 545.7 billion won.
Semiconductors remained the market's main engine. SK hynix surged 5.84 percent to 2,521,000 won, crossing the 2.5 million won level for the first time, as investors continued to bet on stronger shareholder returns and growth in the high-bandwidth memory market. Samsung Electronics reversed early weakness to close up 1.02 percent at 346,500 won, while SK Square jumped 6.3 percent to 1,596,000 won as investors sought indirect exposure to SK hynix's upside.
Power-cable shares delivered one of the strongest theme moves of the session, with the group rising 8.5 percent. Gaon Cable hit the daily limit, jumping 29.9 percent to 341,000 won after announcing a bonus issue of 0.8 new shares for each existing common share, citing growth in the artificial intelligence data-center power infrastructure market as the rationale for sharing gains with shareholders.
Biotech and health-care names also drew strong buying. The biotechnology sector rose 6.7 percent, led by D&D Pharmatech, up 18 percent to 108,100 won, and ToolGen, up 16 percent to 49,750 won. Life-science tools and services gained 4.4 percent, with Curiosis up 11.2 percent to 33,300 won and OliX up 9.8 percent to 142,000 won.
Construction shares pulled back sharply after recent steep gains. Daewoo Engineering and Construction fell 9.7 percent to 24,800 won and Samsung E&A dropped 7.4 percent to 52,500 won as investors took profits following a run-up driven by Middle East reconstruction hopes. Hyundai Motor also fell 3.4 percent to 618,000 won, underscoring that the day's gains remained concentrated in selected growth themes rather than the broader large-cap market.
The KOSDAQ rose 1.3 percent to 1,031.96, moving between an intraday high of 1,039.55 and a low of 1,008.57. Foreign investors bought 31.9 billion won on the junior bourse, while retail investors sold 20.3 billion won and institutions sold 15.3 billion won. Shipbuilding-related shares rose 5.8 percent, with Dongil Steelux hitting the daily limit at 1,523 won. Character merchandise stocks gained 4.8 percent, led by SAMG Entertainment, up 9 percent to 30,200 won, ahead of the August release of the sequel to its hit animated film "Love of Hachoo Pink."
The won weakened slightly against the dollar, closing at 1,511.9 won.
In Japan, the Nikkei 225 rose for a fifth consecutive session, closing at a fresh record high for the third straight day, up 0.72 percent to 69,902.25. The broader TOPIX climbed 0.55 percent to 4,013.23, crossing the 4,000 mark for the first time on a closing basis. Investors interpreted the Bank of Japan's decision to raise its benchmark rate to 1 percent, the highest since 1995, as confirmation that Japan's recovery remains intact rather than a headwind for equities. Artificial intelligence and semiconductor shares attracted dip-buying, while dividend reinvestment flows added further support.
China's Shanghai Composite rose a modest 0.4 percent to 4,109.96, lagging the stronger conviction seen in Seoul and Tokyo. Oil prices continued to retreat on expectations for a U.S.-Iran agreement, with West Texas Intermediate falling 1.2 percent to $75.20 a barrel and Brent crude slipping 0.7 percent to $78.40, easing concerns over supply disruption and energy-driven inflation across the region.T
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