SEOUL, January 29 (AJP) - Asian markets closed mixed on Thursday as investors struggled to find direction amid conflicting signals from corporate earnings, central bank policy and rising geopolitical tensions, a combination that kept volatility elevated across the region.
Currency markets reflected the uncertainty. The South Korean won was quoted at 1,428.9 per dollar at 4:40 p.m., down 4.6 won from the previous close. While the won pared earlier losses as the U.S. dollar weakened in late trading, it remained volatile amid competing global factors.
Market sentiment was initially buoyed by comments from U.S. Treasury Secretary Scott Bessent, who dismissed the possibility of intentional intervention to weaken the Japanese yen, alongside the U.S. Federal Reserve’s decision to hold rates at 3.5–3.75 percent with a hawkish tone. The dollar later reversed course after media reports said President Donald Trump was weighing military options against Iran. The U.S. Dollar Index fell 0.16 percent to 96.20 by late afternoon.
The benchmark 10-year U.S. Treasury yield rose 3.9 basis points to 3.557 percent, reflecting investor unease over the Fed’s stance and heightened geopolitical risks.
South Korean stocks recovered from early losses, with the benchmark KOSPI closing up 0.98 percent at 5,221.25, supported by strong earnings and corporate investment announcements that offset macroeconomic concerns.
Samsung Electronics fell 1.05 percent to 160,700 won despite reporting fourth-quarter operating profit of 20.1 trillion won ($14 billion). Investors were cautious after the company warned that rising memory prices could weigh on demand for smartphones and personal computers, while losses in its home appliances business also dampened sentiment.
SK hynix climbed 2.38 percent to 861,000 won after overtaking Samsung in semiconductor profitability for the first time. The chipmaker posted quarterly operating profit of 19.2 trillion won and announced a shareholder return plan that includes the cancellation of 15.3 million treasury shares. Shares in SK Square, a major shareholder, jumped 5.36 percent.
Hyundai Motor surged 7.21 percent to 528,000 won, extending gains that have lifted the stock more than 150 percent from late January last year. Investors welcomed the automaker’s commitment to complete real-world testing of its humanoid robot “Atlas” and smart-car prototypes by late 2026, despite a nearly 20 percent year-on-year decline in operating profit.
LG Energy Solution fell 3.36 percent to 416,500 won after confirming a fourth-quarter operating loss of 122 billion won. Weakness in its energy storage system business and recent contract cancellations weighed on the stock, pushing it out of the top three by market capitalization.
The tech-heavy KOSDAQ outperformed, rising 2.73 percent to 1,164.41, driven by technology shares and government-backed “value-up” initiatives. Rainbow Robotics jumped 9.35 percent following Samsung’s pledge to accelerate robotics investments, while EcoPro BM gained 7.42 percent. Biotech firm Alteogen slipped 1.15 percent ahead of its planned move to the KOSPI.
In Japan, the Nikkei 225 ended flat at 53,375.60 after a volatile session. Early losses linked to yen strength were offset by gains in automakers, though safe-haven demand for the yen amid Middle East tensions capped the index’s advance. The yen was quoted at 153.30 per dollar late in the day.
Toyota Motor rose 3.02 percent after reporting record sales for 2025, while Honda gained 2.17 percent on strong guidance led by hybrid vehicles. Chip tester Advantest climbed 5.17 percent after posting an earnings beat.
Taiwan’s TAIEX fell 0.82 percent to 32,536.27 on profit-taking and concerns over the impact of a weaker dollar on foreign exchange reserves. TSMC slipped 0.82 percent, Foxconn fell 0.67 percent, and MediaTek ended flat after erasing early gains.
Mainland Chinese markets were steadier, with the Shanghai Composite edging up 0.16 percent to 4,157.98. In Hong Kong, the Hang Seng Index reversed early losses to trade 0.36 percent higher at 27,928 in late afternoon dealings, supported by gains in gold-related shares.
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