Journalist

Kim Yeon-je
  • Asian markets mixed on yen carry trade fears as KOSPI outperforms
    Asian markets mixed on yen carry trade fears as KOSPI outperforms SEOUL, December 02 (AJP) - Asian equity markets were mixed on Tuesday as investors weighed the growing risk of a yen carry trade unwind sparked by rising expectations of a Bank of Japan interest rate hike. Korea’s KOSPI stood out as the region’s strongest performer, drawing sizable foreign inflows even as most other Asian benchmarks stalled or slipped. The Korean won strengthened slightly to 1,468.9 per dollar, up 2 won from the previous session, supported by foreign capital moving into Seoul’s markets and a renewed push by financial authorities urging exporters and institutions to convert dollar earnings into won. Still, analysts noted that Korea’s M2 money supply growth remains higher than in other major economies, suggesting that currency stabilization will require more time and potentially further policy measures. The KOSPI jumped 1.9 percent to 3,994.93, briefly approaching the psychologically significant 4,000 line as investors repositioned amid heightened volatility in Japan. Monday’s trade data, which showed a surplus, added momentum. Foreign investors bought 1.21 trillion won ($800 million) in Korean equities, while institutions purchased 393 billion won. Retail investors sold 1.58 trillion won, locking in recent gains. Large-cap technology stocks led the advance. SK hynix climbed 3.72 percent to 558,000 won, reclaiming the 550,000-won level for the first time in weeks. Samsung Electronics added 2.58 percent to 103,400 won, consolidating its hold above the symbolic “100,000-Electronics” threshold. Carmakers, which had slumped the previous day, rebounded sharply: Hyundai Motor rose 4.52 percent to 266,000 won and Kia gained 4.19 percent to 117,000 won. Shipping stocks also surged following the latest trade data, with Pan Ocean up 11.17 percent, Korea Line rising 9.04 percent, and Hyundai Glovis climbing 3.93 percent. Japan’s Nikkei 225 ended largely flat at 49,303.45, giving back early gains as BOJ tightening expectations solidified. Financial stocks climbed on the prospect of higher rates, with Mitsubishi UFJ Financial Group up 2.46 percent. But analysts cautioned that a full-scale unwind of yen-funded carry positions could trigger broader market stress. Japanese industrial and robotics names were notable gainers. Fanuc rose 6.51 percent, and Yaskawa Electric advanced 4.67 percent, reflecting optimism that the export downturn may be bottoming and capital expenditure could soon pick up. Exporters that had benefited from yen weakness, including Toyota, retreated, with the automaker falling 1.2 percent. Taiwan’s TAIEX mirrored Korea’s strength, closing 0.81 percent higher at 27,564.27, led by TSMC, which gained 1.42 percent. MediaTek, after a sharp rally in recent days, slipped 2.08 percent on valuation concerns. Mainland Chinese markets remained among the region’s weakest as investors assessed the potential impact of a BOJ rate hike on regional liquidity. The Shanghai Composite fell 0.42 percent to 3,897.71, and the SZSE Component declined 0.68 percent to 13,056.70. Hong Kong’s Hang Seng Index, which touched 26,264 earlier in the day, pared gains to trade 0.14 percent higher at 26,067 as of 4:40 p.m. 2025-12-02 17:06:45
  • South Koreas daily inflation nears 3% in November on steep won weakening
    South Korea's daily inflation nears 3% in November on steep won weakening SEOUL, December 02 (AJP) - South Korea’s inflationary pressure strengthened in November, with daily living costs hovering near 3 percent as a sharply weaker won pushed up fuel and import prices while discouraging overseas travel and spending, government data showed Tuesday. According to the consumer price index (CPI) released by the Ministry of Data and Statistics, headline inflation rose 2.4 percent from a year earlier, matching October’s on-year gain. Fuel prices jumped 5.9 percent on year and 3.5 percent on month, reflecting the dollar-won exchange rate lingering at crisis-level territory. The dollar climbed as high as 1,475.2 won last month — nearly 7 percent higher than two months earlier. Diesel prices rose 10.4 percent and gasoline gained 5.3 percent. Although Dubai crude fell about 4.5 percent — from $66.2 per barrel in late October to $63.2 in late November — domestic petroleum prices nevertheless increased to 1,718.1 won per liter from 1,663.2 won a month earlier due to the weaker won and the gradual phase-out of fuel-tax cuts. Processed food prices rose 3.3 percent on higher import-input costs, while prices of agricultural, livestock and fishery goods surged 5.6 percent on poor weather conditions. Core inflation, which excludes food and energy, eased to 2.0 percent from 2.2 percent in October as service-sector prices softened on weakening demand. Housing rents — including jeonse lump-sum leases and monthly rentals — continued their upward trajectory, rising 0.9 percent on year. The Cost of Living Index (CLI), which tracks 144 frequently purchased items, accelerated to a 2.9 percent on-year increase from 2.5 percent in October. Expected inflation for the next 12 months remained in the mid-2 percent range. Following the release, the Bank of Korea said it was monitoring price trends “with vigilance,” noting that overall inflation has stayed in the mid-2 percent range for a second consecutive month while daily living costs have spiked. In the bond market, the 3-year Treasury yield closed the early Tuesday session 2.0 basis points lower at 3.025 percent, while the 10-year yield slipped 1.4 basis points to 3.373 percent. The central bank kept its policy rate unchanged at 2.5 percent at its final meeting of the year on Nov. 27, citing a policy bind created by foreign-exchange volatility and housing-market vulnerabilities. 2025-12-02 16:23:28
  • Asian markets mixed as China rallies; Korea, Japan slip on policy concerns
    Asian markets mixed as China rallies; Korea, Japan slip on policy concerns SEOUL, December 01 (AJP) - Asian equities were mixed on Monday morning, with declines in South Korea, Japan and Taiwan contrasting with broad gains in China. South Korea’s benchmark KOSPI slipped 0.35 percent to 3,911 as of 10 a.m., pressured by institutional selling. Institutions offloaded 132.1 billion won ($90 million), while foreign investors sold a modest 4 billion won as they monitored market direction. Retail investors bought 162.1 billion won, seeking to take advantage of the dip. Shares of heavyweight chipmakers were steady. Samsung Electronics rose 0.1 percent to 100,600 won, while SK hynix edged up 0.28 percent to 531,500 won. Power equipment makers slumped sharply on concerns that North American shipments have peaked and margins are topping out. HD Hyundai Electric fell 4.65 percent to 739,000 won, while Hyosung Heavy Industries tumbled 5.94 percent to 1,789,000 won. Auto stocks also weakened, with Hyundai Motor sliding 2.49 percent to 255,000 won amid continued foreign selling as investors reassess risks tied to potential U.S. tariffs of up to 15%. Shipping names advanced after November export data showed an 8.4 percent year-on-year rise to a record high. HMM gained 4.5 percent to 20,000 won, and Pan Ocean climbed 4 percent to 3,920 won. The tech-heavy KOSDAQ reversed course on expectations of fresh government support, rising 1.6 percent to 930. Cybersecurity stocks rallied across the board after a series of high-profile breaches, including the exposure of 30 million customer records at e-commerce giant Coupang. Softcamp surged by the daily limit, jumping 30 percent to 1,682 won. AhnLab rose 2.3 percent to 61,600 won, while ESTsoft added 3.9 percent to 19,140 won. In Japan, the Nikkei 225 dropped 1.6 percent to 49,450 as traders weighed the possibility that the Bank of Japan could freeze or raise rates at its upcoming policy meeting — moves that could delay fiscal stimulus proposed by Prime Minister Sanae Takaichi’s Cabinet. Banking stocks firmed on expectations of higher interest rates. Chiba Bank climbed 1.92 percent to 1,676 yen ($10.8), while Shizuoka Financial Group advanced 1.6 percent to 2,300 yen. Major exporters weakened, with Toyota down 1.1 percent to 3,099 yen and Sony sliding 2.7 percent to 4,452 yen. Chip and technology suppliers continued to face pressure. Testing equipment maker Advantest plunged 4.6 percent to 19,620 yen, while Ibiden dropped 2 percent to 11,640 yen. Taiwan’s TAIEX traded 0.3 percent lower at 27,550. TSMC slipped 0.7 percent to 1,430 Taiwan dollars ($45.5), and Hon Hai Precision fell 1.1 percent to 223 Taiwan dollars. MediaTek bucked the trend, rising 3.6 percent to 1,445 Taiwan dollars on optimism over its expanded AI partnership with Alphabet and stronger-than-expected demand for its Dimensity 9500 smartphone chips. Mainland Chinese markets advanced across the board. The Shanghai Composite Index rose 0.41 percent to 3,904, while the Shenzhen Component gained 0.85 percent to 13,085. Investor expectations for additional stimulus grew amid signs of prolonged economic weakness, including the decision by major developer Vanke Group to seek extensions on maturing bonds and the yield on Chinese Treasury bonds falling below that of Japan for the first time. Hong Kong’s Hang Seng Index climbed 1.13 percent to 26,150, rebounding from sentiment pressure following last week’s deadly incident in Tai Po and supported by optimism over China’s expected economic measures. 2025-12-01 11:13:27
  • Asian markets mostly gain, but Seoul tumbles on foreign sell-off
    Asian markets mostly gain, but Seoul tumbles on foreign sell-off SEOUL, November 28 (AJP) - Asian equities ended mostly higher on Friday, with the notable exception of South Korea’s KOSPI, which slumped sharply amid renewed currency volatility and recession concerns. The Korean won weakened to 1,471.8 per dollar, up 8.8 won as of 5 p.m., with traders saying recent verbal intervention by authorities has done little to stabilize the currency. Bond yields eased after an early climb. The three-year government yield, which touched a morning peak of 3.08 percent — up 6.7 basis points — slipped to 2.99 percent by the close. South Korea’s benchmark KOSPI fell 1.51 percent to 3,926.59, the only major Asian index to post a drop of more than 1 percent. Foreign investors were the main sellers, offloading 2.06 trillion won ($1.4 billion). Analysts said the weak won and limited impact of FX intervention weighed on sentiment. A batch of softer-than-expected industrial activity data released earlier in the day also stoked concerns about a looming economic slowdown. Capital outflows from the KOSPI coincided with inflows into the tech-heavy KOSDAQ, where expectations of government stimulus measures pushed the index 3.71 percent higher to 912.67. Foreigners and institutions contributed net inflows of 488 billion won and 602.6 billion won, respectively. Blue chips dragged on the main board. Samsung Electronics slipped 2.9 percent to 100,500 won, while SK hynix lost 2.57 percent to 530,000 won. LG Energy Solution was the weakest among major stocks, plunging 6.85 percent to 408,000 won. By contrast, KOSDAQ shares surged, led by robotics plays. Rainbow Robotics jumped 13.43 percent to 435,000 won, and Yujin Robot gained 5.08 percent to 12,200 won. Elsewhere in Asia, Japan’s Nikkei 225 edged up 0.17 percent to 50,253.91. Toyota Motor was little changed at 3,133 yen ($20), down 0.16 percent, as persistent doubts over its electric-vehicle strategy offset solid hybrid sales. Energy and telecom stocks in Tokyo posted small gains, with wire and fiber-optic maker Furukawa Electric rising 4.73 percent. Chip stocks were mixed. Advantest climbed 0.81 percent while Tokyo Electron fell 1.18 percent. Taiwan’s TAIEX added 0.26 percent to 27,626.48. TSMC inched up 0.35 percent to NT$1,440 ($45.86), while MediaTek advanced 4.1 percent to NT$1,395. Mainland Chinese markets ended higher — the SZSE Component up 0.85 percent and the Shanghai Composite up 0.34 percent. Hong Kong’s Hang Seng Index slipped 0.2 percent to 25,895.20, pressured by cautious sentiment following a deadly apartment fire. 2025-11-28 17:28:28
  • Economy/Business Calendar
    Economy/Business Calendar Seoul, November 28 (AJP) - Dec 1 (Mon) ISM Manufacturing (Nov) - U.S. NBS/Caixin PMIs (Nov) - China Dec 3 (Wed) GNI (3Q) - Ministry of Data and Stats ADP, ISM Services - U.S. Dec 5 (Fri) BoP (Oct) - Bank of Korea Industrial Loans (Q3) 2025 - Bank of Korea Jobs Report (Nov) - U.S. Dec 9-10 (Tue-Wed) FOMC meeting - U.S. Export/Import price indexes (Nov) - Bank of Korea Dec 15-18 (Mon-Thu) Trade, CPI/PPI (Nov) - China Dec 16 (Tue) Combined Oct–Nov Employment - U.S. Monetary Aggregates (Oct) - Bank of Korea Dec 18 (Thu) US CPI (Nov) - U.S. CPI (Nov) - Japan Dec 19 (Fri) PPI (Nov) - Bank of Korea Dec 23 (Tue) GDP 3Q (final), consumer confidence - U.S. Dec 24 (Wed) CSI (Dec) - Bank of Korea NYSE/Nasdaq early close - U.S. Dec 25 (Thu) Christmas Closures - KR/US/HK Holiday Dec 29-30 (Mon-Tue) Nov Industrial output Dec 31 (Wed) CPI (Dec, Annual) - Ministry of Data and Statistics KRX/TSE Closed - KR/JP Holiday 2025-11-28 17:27:04
  • Asian shares mostly positive; Korean won rebounds as debt yields jump on BOK warning
    Asian shares mostly positive; Korean won rebounds as debt yields jump on BOK warning SEOUL, November 27 (AJP) - Asian equity markets extended gains Thursday, led by tech stocks benefiting from Google’s dual breakthroughs in AI chips and the Gemini 3.0 model. In Korea, the won strengthened sharply while government bond prices slumped after the Bank of Korea governor struck a hawkish tone on FX risks and inflation after keeping the base rate at 2.50 percent in the final policy meeting of the year. The 3-year yield jumped 11.8 basis points to 3.013 percent and the 10-year rose 10 basis points to 3.351 percent. The dollar fell 8.40 won to 1,462.10 won. The benchmark KOSPI closed 0.66 percent higher at 3,986.91 after briefly retaking the 4,000 mark. Institutional investors—responding to the government’s appeal to shore up the won—net bought 434.3 billion won ($296.4 million). Foreign investors also reversed course, buying a net 149.6 billion won, while retail investors sold 610.2 billion won. All major bellwethers advanced. SK hynix gained 3.82 percent to 544,000 won, recovering recent losses. Samsung Electronics gave up early gains but still closed 0.68 percent higher at 103,500 won. Samsung Epis Holdings jumped 19.7 percent to 434,500 won on expectations of strong growth potential following its spin-off to focus on new drug and biosimilar businesses. Some stocks lagged. Hanwha Ocean fell 2.99 percent to 110,500 won after signs of a possible end to the Ukraine war and the company’s failure to win a Polish submarine contract. Naver slid 4.55 percent to 251,500 won after a 50 billion won hacking loss at Dunamu, which is set to merge with Naver Financial. The loss darkened prospects for a potential NASDAQ listing. The KOSDAQ edged up 0.31 percent to 880.06, with gains across chip and robotics names. Rainbow Robotics rose 2.68 percent to 383,500 won. Japan’s Nikkei 225 closed 1.23 percent higher at 50,167.10. Chip suppliers led the advance: Advantest rose 4.88 percent to 20,410 yen, while Ibiden gained 5 percent to 11,450 yen. Battery stocks also rallied, with Panasonic up 5.08 percent at 1,934 yen after securing a supply contract with Zoox, Amazon’s autonomous taxi unit. Taiwan’s TAIEX added 0.53 percent to 27,554.53. Market heavyweights were mixed: TSMC slipped 0.35 percent, while MediaTek gained 3.08 percent and Hon Hai rose 1.76 percent, suggesting a rotation away from the TSMC-centric bias. Mainland Chinese markets saw a late-session reversal. The Shanghai Composite closed 0.29 percent higher at 3,875.26, while the SZSE Component fell 0.25 percent to 12,875.20. News that Vanke, China’s largest developer, entered talks to extend bond maturities pressured Shenzhen and Hong Kong markets. Shanghai, meanwhile, drew investors betting on central government stimulus to avert a Vanke-triggered credit shock. Hong Kong’s Hang Seng Index remained flat at 25,941.2, weighed down by profit-taking in tech names—Tencent down 1.45 percent and Alibaba down 2.71 percent—and by cooling consumer sentiment after the deadly Tai Po apartment fire that killed at least 55 people. 2025-11-27 17:10:48
  • BOK holds base rate at 2.50%, bond yields jump as markets price in end of easing
    BOK holds base rate at 2.50%, bond yields jump as markets price in end of easing SEOUL, November 27 (AJP) - The Bank of Korea kept the base rate unchanged at 2.50 percent at its final monetary policy meeting of 2025 on Thursday and signaled that the latest easing cycle may be nearing an end as a persistently weak won fans inflation while simultaneously eroding household purchasing power. Governor Rhee Chang-yong said the decision was “almost unanimous,” with five of the six board members voting for a freeze due to heightened foreign-exchange volatility and unresolved uncertainty in the housing market. One member sought a cut to shore up the fragile economy. Three members also argued the central bank should preserve room for another reduction in three months, depending on how risks evolve. Bond prices fell on the perceived hawkish tilt. The three-year government bond yield rose 5.3 basis points to 2.948 percent, while the five-year gained 4.8 basis points to 3.132 percent. (Bond yields move inverse to prices.) The won strengthened 5.6 won to 1,464.9 per dollar following repeated verbal interventions. The KOSPI slipped back below 4,000 after a brief rebound. Rhee declined to confirm market speculation that the BOK’s easing cycle — which began in October 2024 after rates peaked at 3.50 percent — was effectively over as the market noted the tweaks in the BOK statement after the rate meeting – the replacement of the phrase “easing stance” with the softer “possibility of easing.” “How this is interpreted is up to individuals,” Rhee said. “It is difficult to predict what lies ahead when both upward and downward pressures exist.” The BOK made mild revisions to its growth forecast: raising this year’s projection to 1.0 percent from 0.9 percent and next year’s to 1.8 percent from 1.6 percent. Growth in 2027 is expected to edge slightly above the potential rate of 1.8 percent, at 1.9 percent. Rhee warned of a buildup in inflationary pressure next year due to the weak currency and firmer global oil prices. The won is projected to average above 1,400 per dollar this year — a level unseen even during the Asian Financial Crisis or the Global Financial Crisis. To stabilize the currency, fiscal and monetary authorities have formed an emergency council with the National Pension Service, Korea’s largest holder of dollar-denominated assets, hoping to better manage supply-demand dynamics in the FX market. Rhee called the won’s weakness extraordinary, attributing it to a deep structural tilt toward overseas investments rather than crisis-level stress. He pointed to the stability of Korea’s external borrowing conditions: the five-year credit default swap premium stood at 24 basis points in October, down from 31 in May. “We could send a positive signal to the foreign-exchange and real economy if we halt the easing cycle,” he said, though he emphasized that both monetary and fiscal policy options are limited because the imbalance is structural rather than cyclical. “That the won remains weak despite the narrowing Korea-U.S. rate gap suggests the core issue lies in the imbalance between domestic and overseas investment flows,” he added. Rhee rejected claims that the NPS is being pressured to defend the currency, arguing that an excessively weak won already erodes returns from the fund’s overseas portfolio — ultimately undermining retirement assets. 2025-11-27 13:56:22
  • Asian shares extend rally on AI momentum and KOSPI recovers 4,000-mark.
    Asian shares extend rally on AI momentum and KOSPI recovers 4,000-mark. SEOUL, November 27 (AJP) - Asian equity markets maintained their positive momentum on Thursday, driven by persistent optimism surrounding the Artificial Intelligence (AI) sector and a growing global conviction that US interest rates may soon ease. The KOSPI in Seoul led the charge, reclaiming the psychologically significant 4,000-point mark to trade 1.4 percent higher at 4,017, reclaiming the 4,000-point mark for the first time in five days. Sentiment improved after the Bank of Korea raised its annual growth outlook and held rates steady, a coordinated move with fiscal authorities to help stabilize the Korean won. The KOSDAQ gained 0.5 percent to 881.6. Institutional investors — seen as responding to government pressure to support won demand — led the rally with net purchases of 215.7 billion won ($147 million). Foreign investors also remained net buyers from the opening bell, adding 182.1 billion won. Retail investors booked profits, offloading 400.7 billion won. The won traded at 1,466 per dollar, up 4.5 won from the previous day. Market leaders Samsung Electronics and SK hynix advanced simultaneously for the first time in weeks. Samsung Electronics gained 2 percent to 105,000 won, while SK hynix jumped 5.7 percent to 555,000 won, reclaiming the key 550,000-won level as Nvidia shares rebounded overnight. Energy names tracked chipmakers higher. Doosan Enerbility climbed 1.67 percent to 79,000 won, extending its upward run on the strength of its wide portfolio spanning large nuclear reactors, small modular reactors and gas turbines. Robot stocks — essential to semiconductor production — also rose. Doosan Robotics gained 3.5 percent to 74,400 won, while KOSDAQ-listed Rainbow Robotics, a Samsung Electronics affiliate, climbed 3.5 percent to 386,500 won. Biotech shares were mixed. Samsung Epis Holdings, newly spun off from Samsung Biologics, surged 15 percent to 418,000 won, easing concerns about undervaluation. Celltrion was little changed at 186,500 won. In Japan, the Nikkei 225 climbed 1.35 percent to 50,230. Semiconductor names led gains, with Advantest up 4.5 percent at 20,340 yen ($130.6) and Ibiden up 5.7 percent at 11,525 yen. Materials producer Denka, known for fluorine gas used in wafer cleaning, rose 5 percent to 2,670 yen. Taiwan’s TAIEX edged up 0.67 percent to 27,593. Chip sentiment was mixed: TSMC traded flat at 1,445 Taiwan dollars ($46.2), as reports surfaced that Alphabet plans to outsource key semiconductor packaging to Intel. MediaTek gained 3.1 percent to 1,340 Taiwan dollars, extending its rally on expectations it will benefit from Alphabet’s AI chip roadmap. On the mainland, Shenzhen outperformed with the tech-heavy SZSE Component up 1.03 percent to 13,043. The Shanghai Composite added 0.4 percent to 3,880. Hong Kong’s Hang Seng Index inched up 0.2 percent to 25,989, with gains capped after a deadly apartment fire in Tai Po on Wednesday left at least 44 people dead and forced the cancellation of corporate events across the city. 2025-11-27 11:30:45
  • BOK holds year-end key rate at 2.5%, ups growth forecast to 1.0%
    BOK holds year-end key rate at 2.5%, ups growth forecast to 1.0% SEOUL, November 27 (AJP) - As widely expected, the Bank of Korea kept its base rate unchanged at 2.5 percent on Thursday in its final policy meeting of 2025, reflecting policy bind amid waning appeal of Korean debt and assets with the Korean won at crisis-level weakest. The freeze signals the Korean central bank's decision to stay on the sidelines while hoping for greater policy maneuvering room should the U.S. Federal Reserve cut its benchmark rate again in December. Monetary authorities trimmed the Korean policy rate twice in the first half of the year, lowering it a combined 50 basis points from 3.00 percent to 2.50 percent, but have held steady since May. The pause came as housing demand roared back ahead of a hawkish incoming administration and as the frenzy for U.S. tech stocks fueled structural weakness in both the won and Korean bonds. Those dynamics sharply limited fiscal and monetary options as authorities attempted to stabilize markets. The BOK’s easing cycle effectively stalled under the weight of renewed leveraged investment in property and equities. Korea’s household credit reached a record 1,918 trillion won ($1.3 trillion), with household loans alone totaling 1,845 trillion won — a staggering 96.2 percent of all household credit. Volatility in the foreign-exchange market added another layer of constraint. The central bank’s data shows the volume-weighted average dollar–won rate at 1,417 won as of Tuesday — exceeding the previous record of 1,398.88 won set in 1998 during the IMF bailout. For comparison, the annual average was 1,276.4 won in 2009 following the global financial crisis. The Bank of Korea separately raised this year's economic estimate to 1.0 percent from previous 0.9 percent and for next year's to 1.8 percent from 1.6 percent upon identifying stronger-than-expected exports led by AI chip boom. 2025-11-27 10:00:25
  • Asian shares rise on AI tailwind; Chinese markets mostly flat
    Asian shares rise on AI tailwind; Chinese markets mostly flat SEOUL, November 26 (AJP) - Asian shares closed broadly higher Wednesday, lifted by renewed optimism over artificial intelligence following the debut of Google’s “Gemini 3.0” model. While sector performance varied across the region, sentiment improved as investors increasingly dismissed the notion of an AI bubble. The benchmark KOSPI climbed 2.67 percent to 3,960.87. Easing anxiety over the AI sector and direct market intervention by foreign exchange authorities served as the day’s strongest catalysts. Institutional investors led the rally, net buying 1.23 trillion won ($838 million). The surge was interpreted as a result of the National Pension Service and major brokerages stepping up domestic equity purchases after FX authorities urged reduced reliance on overseas assets. Foreign investors also turned net buyers, adding 516 billion won. Retail investors, however, sold 1.8 trillion won, reflecting both profit-taking and skepticism over the government’s use of pension funds in its stock and currency defense operations. Despite intervention, the Korean won closed at 1,471.2 won per dollar, down 5 won as of 4:45 p.m., suggesting FX measures have yet to meaningfully reverse the currency’s slide. Treasury yields fell across the curve amid the absence of tangible momentum toward exchange-rate normalization. The 3-year yield fell 2.3 basis points to 2.878 percent, while the 10-year yield dropped 2.2 basis points to 3.242 percent. Market heavyweights advanced, though with varying strength. Samsung Electronics posted the strongest gain, rising 3.52 percent to 102,800 won after drawing investor attention through its AI semiconductor supply partnership with Broadcom, a key collaborator of Alphabet. SK hynix reversed early losses and finished 0.96 percent higher at 524,000 won, though its positioning as an Nvidia partner — rather than an Alphabet-linked supplier — capped its upside. AI component makers rallied, with Samsung Electro-Mechanics jumping 6.42 percent to 257,000 won. Prospects for a Ukraine war ceasefire fueled a surge in reconstruction-related plays. Hyundai Engineering & Construction rose 7.73 percent to 65,500 won, Samsung C&T gained 3.28 percent to 236,000 won, and nuclear energy firm Doosan Enerbility advanced 5.71 percent to 77,700 won. ESS and battery stocks also enjoyed a sharp rebound on renewed confidence in AI-led demand. Samsung SDI rose 7.03 percent to 304,500 won, and LG Energy Solution climbed 5.32 percent to 435,500 won. Japan’s Nikkei 225 rose 1.85 percent to 49,559.07. Gains in semiconductor equipment bellwethers were more muted: Advantest rose 1.99 percent to 19,460 yen ($124.58), and Tokyo Electron inched up 0.23 percent to 31,170 yen. Ibiden, a key Nvidia partner, fell 3.75 percent to 10,905 yen after plunging more than 7 percent earlier. SoftBank Group rebounded 5.65 percent to 16,260 yen after a sharp drop the previous day tied to its OpenAI exposure rather than Alphabet’s ecosystem. Taiwan’s TAIEX also joined the rally, rising 1.85 percent to 27,409.54. MediaTek — reportedly involved in designing Alphabet’s next-generation AI chip — surged 9.7 percent to 1,300 Taiwan dollars ($41.5), while TSMC rose 1.77 percent to 1,440 Taiwan dollars on expectations of increased TPU manufacturing. In mainland China, the Shenzhen market led gains with the SZSE Component rising 1.02 percent to 12,907.83, driven by a surge in communication equipment stocks on expectations of increased state investment in information infrastructure. Shandong Zhongji Electrical jumped 13.21 percent to 543 yuan ($76.6). The Shanghai Composite slipped 0.15 percent to 3,864.18, weighed down by weak domestic consumption. The index’s heavy weighting toward state-owned enterprises, financial firms, and consumer staples amplified the impact of China’s slowdown. China’s 10-year Treasury yield fell to 1.83 percent on Nov. 21 — below Japan’s 1.84 percent — underscoring prolonged economic malaise. Hong Kong’s Hang Seng Index erased early gains and was trading nearly flat at 25,930 as of 4:45 p.m., up just 0.14 percent. 2025-11-26 17:42:21