SEOUL, April 24 (AJP) - Asian markets traded mixed Friday with little sign of diplomatic breakthrough after U.S. President Donald Trump unilaterally declared an indefinite extension to the ceasefire with Iran while continuing with naval blockade of the Strait of Hormuz.
Japan's Nikkei 225 rose 0.70 percent to 59,554.99, aided by spillover from overnight gains in U.S. semiconductor shares, with Advantest climbing 1.56 percent to 28,335 yen and SoftBank Group adding 1.42 percent to 5,920 yen.
Hong Kong’s Hang Seng Index fell 0.94 percent to 25,672.48 and China’s Shanghai Composite Index fell 0.57 percent to 4,069.88
In Seoul, the KOSPI pulled back after closing at a fresh record high in the previous session, fluctuating near the 6,500 mark in early trading as foreign selling weighed on sentiment. Pressure also came as Samsung Electronics and SK hynix retreated from record highs.
As of 11:20 a.m., the main index stood at 6,458.15, down 0.22 percent.
Leading the decline, Samsung Electronics fell 2.45 percent to 219,000 won, and SK hynix slipped 0.49 percent to 1,219,000 won. Hyundai Motor dropped 3.57 percent to 513,000 won, and affiliate Kia also declined 2.84 percent to 153,900 won.
Gains were seen in select industrial and defense-related names, with defense shares supported by renewed geopolitical risks in the Middle East surrounding the war overnight. HD Hyundai Heavy Industries rose 3.12 percent to 661,000 won, while Hanwha Aerospace advanced 2.74 percent to 1,464,000 won.
Doosan Enerbility also gained 2.20 percent to 125,300 won, supported by optimism over expanding nuclear and gas turbine orders and potential opportunities tied to Vietnam’s nuclear plans following an MOU between South Korea and Vietnam. The stock has risen about 63 percent this year and ranks as the top foreign net-buying stock, with net purchases totaling 2.26 trillion won.
The junior KOSDAQ moved higher, rising 1.26 percent to 1,189.08, with foreign and institutional buying supporting sentiment.
Gains were led by biotech and technology names. Peptron jumped 10.28 percent to 279,000 won, while Samchundang Pharm surged 5.00 percent to 399,000 won. Alteogen rose 3.08 percent to 368,500 won, and Eotechonics gained 1.55 percent to 492,000 won.
On the downside, Ecopro fell 1.46 percent to 154,900 won, and Rainbow Robotics slipped 0.50 percent to 597,000 won. HLB edged down 0.50 percent to 59,600 won, and Koongtook Sujin declined 0.45 percent to 99,650 won.
In the currency market, the Korean won weakened slightly, with the dollar trading at 1,482.80 won, compared with the previous close of 1,481.0 won.
Overnight on Wall Street, stocks closed lower as renewed geopolitical tensions in the Middle East, a surge in oil prices and weakness in software shares weighed on sentiment. The S&P 500 fell 0.41 percent, while the Nasdaq dropped 0.89 percent and the Dow Jones Industrial Average slipped 0.36 percent.
The Philadelphia Semiconductor Index, however, bucked the broader downturn, rising 1.71 percent, highlighting continued resilience in chip shares.
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