SEOUL, December 18 (AJP) - Asian markets opened subdued on Thursday, taking cues from two key drivers — an overnight sell-off on Wall Street and anticipation ahead of the Bank of Japan’s rate decision.
In New York, renewed concerns over an “AI bubble” resurfaced after a major financier reportedly withdrew from an Oracle-led AI data-center project. The gloom was partially offset by Micron Technology’s strong earnings and upbeat guidance, which sent its shares surging more than 7 percent in after-hours trading and provided modest relief to chip-heavy markets in South Korea and Taiwan.
In Seoul, the benchmark KOSPI fell 1.3 percent to 4,004 as of 10:30 a.m., with institutional and foreign investors leading the sell-off. Foreigners offloaded a net 71.5 billion won ($48.5 million), while institutions sold 17 billion won. Retail investors stepped in to buy the dip, net purchasing 71.5 billion won.
The Korean won weakened to 1,475.1 per U.S. dollar, down 3.4 won from the previous session. Market sentiment remained fragile after the currency briefly breached the 1,480 level a day earlier, prompting an emergency morning meeting among finance ministry, financial regulator and central bank officials.
Samsung Electronics slipped 0.9 percent to 107,000 won, reflecting spillover concerns from the Oracle-related AI pullback. SK hynix, however, rose 1.8 percent to 560,000 won, buoyed by Micron’s strong results.
The secondary battery sector came under heavy pressure.
LG Energy Solution plunged 6 percent to 390,500 won following news of the termination of a battery supply contract with Ford Motor. SK Innovation, the largest shareholder of SK On, fell 3.3 percent to 107,000 won amid reports that its U.S. joint venture with Ford is being dissolved. Samsung SDI dropped 4.6 percent to 282,000 won, while materials producer EcoPro Materials slid 4 percent to 57,500 won.
The tech-heavy KOSDAQ declined 0.5 percent to 905, with the psychologically important 900 level again under threat. Foreign selling of 45 billion won weighed on the index, particularly EcoPro-related stocks. EcoPro fell 3.2 percent to 100,000 won, while EcoPro BM sank 4.7 percent to 158,000 won.
In contrast, recent market debutants remained resilient. Nara Space Technology jumped 14 percent to 30,800 won, extending its post-listing rally. Aimed Bio and Alteogen each edged up about 2 percent, with Alteogen supported by expectations surrounding its planned transfer to the KOSPI in 2026.
Japan’s Nikkei 225 fell 0.75 percent to 49,145, tracking the tech-led decline in U.S. equities.
Among major stocks, Toyota Motor edged up 0.24 percent to 3,357 yen ($21.6), while Honda Motor slid 1.7 percent to 1,556 yen. The divergence followed reports that U.S. safety regulators ordered a recall of about 70,000 units of Honda’s Acura ILX due to potential software defects, prompting some rotation into Toyota.
Semiconductor shares in Tokyo faced what traders described as a “cold winter” sentiment. Advantest fell 3.15 percent, Tokyo Electron dropped 2.7 percent, and Ibiden declined 2 percent.
Taiwan’s TAIEX posted a milder decline, slipping 0.3 percent to 27,448. TSMC edged down 0.35 percent to 1,425 Taiwan dollars ($45.1), while MediaTek rose 0.35 percent to 1,435 Taiwan dollars.
Mainland China and Hong Kong markets also opened weaker. The Shanghai Composite fell a modest 0.25 percent, but tech-heavy indices underperformed, with the Shenzhen Component down 0.95 percent and the Hang Seng Index sliding 0.75 percent to 25,277.
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