SEOUL, February 13 (AJP) — South Korean shares held firm Thursday despite broad losses and subdued trading across Asia ahead of the Lunar New Year holiday, supported by renewed optimism over the semiconductor sector.
Wall Street tech stocks fell overnight on concerns that artificial intelligence could disrupt the traditional software industry, dampening regional sentiment. However, strong earnings from Japan’s chipmaker Kioxia lifted investor confidence in South Korea, fueling hopes of a recovery in the global memory market.
Kioxia, a major producer of NAND flash memory, reported third-quarter sales of 543 billion yen and issued fourth-quarter revenue guidance of 890 billion yen, both exceeding market expectations. The company also said its average selling price rose more than 10 percent from the previous quarter, signaling improving profitability.
The upbeat outlook boosted local semiconductor shares. Samsung Electronics climbed above 180,000 won for the first time, pushing the KOSPI to a new intraday high above the 5,500 level before trimming gains on profit-taking. The stock was up 1.82 percent at 181,850 won ($126) in morning trade.
As of 11:00 a.m., the benchmark KOSPI stood at 5,540.66, up 0.33 percent, after drifting lower earlier in the session. The KOSDAQ fell 1.55 percent to 1,108.57, pressured by new rules tightening delisting requirements for penny stocks.
The won edged lower against the U.S. dollar, snapping a four-day winning streak. The exchange rate stood at 1,443.20 per dollar at 10:00 a.m., up 0.70 won from the previous session.
Investor flows were mixed. Individual investors bought a net 490 billion won worth of shares, while foreigners and institutions sold a net 188.5 billion won and 316.2 billion won, respectively.
Broader sentiment remained cautious despite gains in Samsung Electronics. Chipmaker SK hynix slipped 0.39 percent to 884,500 won, while battery maker LG Energy Solution fell 3.17 percent to 397,000 won.
Financial and biotech shares showed mixed performance. Samsung Life Insurance rose 0.73 percent, while Samsung Biologics declined 0.81 percent.
Automaker shares moved lower, with Hyundai Motor down 1.38 percent and affiliate Kia falling 1.56 percent to 499,000 won and 163,700 won, respectively.
Defense-related shares softened, as Hanwha Aerospace slid 2.48 percent to 1,103,000 won.
Shipbuilders showed mixed performance. HD Hyundai Heavy Industries gained 1.11 percent to 545,000 won, while Hanwha Ocean dropped 1.97 percent to 129,200 won.
Elsewhere in the region, Japan’s Nikkei 225 fell 0.97 percent to 57,080.44, Hong Kong’s Hang Seng Index slipped 1.45 percent to 26,640.16, and China’s Shanghai Composite edged down 0.44 percent to 4,115.92 in morning trading.
Business will be usual at the Tokyo exchange next week while Seoul opens Thursday, Hong Kong Friday, and Shanghai on Feb. 24.
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