SEOUL, January 06 (AJP) - South Korean stocks took a pause on Tuesday after a relentless rally since year-end, while broader Asian markets largely maintained upward momentum following overnight gains on Wall Street, despite lingering geopolitical jitters tied to Venezuela.
In Seoul, the benchmark KOSPI edged down 0.1 percent to 4,451.94 as of 11:00 a.m., as institutional investors locked in profits after the index recently scaled fresh record highs. The tech-heavy KOSDAQ also slipped 0.3 percent to 954.93.
Overall market moves were measured, with investors rotating toward market leaders amid recent volatility. Gains in select industrial, defense and shipbuilding stocks helped offset profit-taking in heavyweight chipmakers.
Samsung Electronics fell 2.1 percent to 135,200 won ($93.4), while SK hynix slid 1.7 percent to 684,500 won in early trade, reflecting profit-taking after a strong rally. Despite the pullback, sentiment toward chipmakers remained constructive, with analysts pointing to steady AI-driven demand.
Battery and industrial shares traded mixed. LG Energy Solution, the country’s third-largest company by market capitalization, rose 1.1 percent to 375,500 won, while HD Hyundai Heavy Industries advanced 2.1 percent to 524,000 won. Hanwha Aerospace, however, slipped 1.78 percent to 994,000 won amid profit-taking after recent gains.
By contrast, entertainment stocks underperformed the broader market, weighed down by lingering uncertainty over overseas content demand and regulatory risks. HYBE fell 1.9 percent to 333,500 won, while JYP Entertainment slid 1.2 percent to 71,800 won. SM Entertainment dipped 0.4 percent to 118,500 won, and YG Entertainment eased 0.2 percent to 65,000 won.
In the currency market, the Korean won traded little changed against the dollar, hovering around 1,447.6 won per dollar, as investors balanced improved equity sentiment against external risk factors.
In Tokyo, Japanese stocks extended gains in early trade. The Nikkei 225 rose 0.7 percent to 52,196.3, supported by advances in autos, financials and technology-related shares. Among major heavyweights, Toyota Motor climbed 2.1 percent to 3,472 yen ($22.2), while Mitsubishi UFJ Financial Group gained 2.7 percent to 2,613.5 yen on strength in financial shares.
Elsewhere in Asia, market moves were more restrained. Mainland China’s Shanghai Composite added 1.4 percent to 4,023.4, while Hong Kong’s Hang Seng Index rose 0.6 percent to 26,507.3.
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