SEOUL, November 03 (AJP) - Asian stocks rebounded on Monday, with South Korea and Japan extending their record-setting rallies on expectations of stronger chip-sector earnings and upbeat corporate results.
The benchmark KOSPI jumped 2.78 percent to a new closing high of 4,221.87. Retail investors drove the rally, purchasing 651.2 billion won ($456 million) worth of shares, followed by institutions with 443.2 billion won. Foreign investors sold about 795 billion won, taking profits after the recent surge.
Chip stocks again led the charge. SK hynix soared 10.9 percent to 620,000 won ($434.2), marking another all-time high as brokerages including Nomura Securities and Goldman Sachs raised profit estimates. Nomura projected the memory maker’s operating profit to reach 99 trillion won in 2026 and top 100 trillion won in 2027. Samsung Electronics also advanced, adding momentum to the sector’s upward trend.
Defense stocks strengthened after reporting strong quarterly results. Hanwha Aerospace climbed 6.44 percent to 1,042,000 won, while Hyundai Rotem gained 6.07 percent to 244,500 won. Both companies said their defense divisions accounted for the bulk of third-quarter earnings, with operating profit rising 79 percent at Hanwha and 102 percent at Rotem.
Japan’s Nikkei 225 advanced 2.12 percent to an all-time high of 52,411.34. Konami surged 16.81 percent to 25,740 yen ($167.19) after posting a 48 percent increase in second-quarter operating profit. Japan Tobacco rose 8.93 percent to 5,365 yen on a 27.2 percent profit gain, while Hitachi added 7.15 percent to 5,318 yen, supported by solid third-quarter results and news of a new high-speed rail project in Italy.
China’s Shanghai Composite Index edged up 0.55 percent to 3,976.52, trimming last week’s losses. Analysts said gains were limited as the outcome of the Trump–Xi summit largely matched market expectations.
Hong Kong’s Hang Seng Index was up 1 percent at 26,160 as of 4:15 p.m., helped by its relative insulation from mainland market pressures.
Taiwan’s TAIEX added 0.36 percent to close at 28,334.59, rounding out a broadly positive session for Asian equities.
Copyright ⓒ Aju Press All rights reserved.
