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.
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