SEOUL, December 17 (AJP) - Asian equity markets traded mixed in early Tuesday session, digesting overnight U.S. employment data while bracing for imminent rate decisions in Europe and Japan.
In the United States, nonfarm payrolls rose more than expected, but the unemployment rate also came in higher than forecasts, adding uncertainty over the strength and trajectory of the U.S. economy. Investors are now focused on the European Central Bank’s policy decision on Thursday and the Bank of Japan’s meeting on Friday, where a rate hike is widely anticipated.
South Korea’s currency remained fragile, with the won weakening 3 won to 1,477.6 per dollar as of 11 a.m.
The KOSPI rebounded 0.65 percent to 4,025 as of 11 a.m., staging a technical recovery after plunging more than 2 percent in the previous session. Retail investors led the rebound with net purchases of 143.5 billion won ($97.2 million), joined by institutions buying 104.2 billion won. Foreign investors, however, continued to sell, unloading 253 billion won worth of shares.
Samsung Electronics rose 2.14 percent to 105,000 won, while SK hynix gained 1.5 percent to 538,000 won. The market’s two largest stocks benefited from a technical rebound in AI-related semiconductor shares on Wall Street, including Broadcom. Investor attention is also building ahead of Micron Technology’s earnings release after the Nasdaq close on Tuesday. Micron is the world’s third-largest DRAM producer.
Vehicle software-related stocks remained under pressure. Hyundai AutoEver slid 3.9 percent to 270,000 won following reports of Tesla’s progress in Robotaxi development. Hyundai Motor lagged the broader market rebound, rising just 0.2 percent to 286,000 won.
Nuclear energy stocks showed mixed performance despite news of a 5.6 trillion won contract to supply a nuclear steam supply system for the Dukovany nuclear power plant in the Czech Republic. Korea Electric Power Corp., the project’s lead contractor, jumped 3.2 percent to 52,000 won. In contrast, equipment supplier Doosan Enerbility fell 2.2 percent to 75,600 won after being designated an “investment warning stock.”
The tech-heavy KOSDAQ traded nearly flat, edging up 0.2 percent to 918. Despite a steady stream of new IPOs, their impact on lifting the overall index has remained limited.
Nara Space Technology, a satellite manufacturer and data solutions provider, surged 164 percent from its IPO price of 16,500 won to 43,300 won on its debut. The sharp rise reflects growing investor interest in the private space industry.
In Japan, the Nikkei 225 was little changed at 49,400. Semiconductor-related stocks tracked gains in U.S. peers, with Advantest rising 1.7 percent to 19,500 yen ($126.1) and Ibiden up 1.8 percent to 11,600 yen.
Export-oriented stocks were largely subdued ahead of the BOJ’s expected rate hike. Toyota was flat at 3,330 yen, while Honda slipped 0.75 percent to 1,573 yen.
Taiwan’s TAIEX climbed 0.56 percent to 27,691.5. TSMC rose 0.35 percent to 1,440 Taiwan dollars ($45.7), while MediaTek advanced 1.75 percent to 1,445. MediaTek has extended its rally this week on rising smartphone sales in China and positive benchmark reviews of its latest chipset.
Chinese markets remained cautious. Indices tied to traditional industries hovered near previous closing levels, with the Shanghai Composite at 3,823 and Hong Kong’s Hang Seng at 25,245. The tech-heavy Shenzhen Component outperformed, rising 0.4 percent to 12,968.
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