Asian markets end week upbeat as KOSPI, KOSDAQ hover near milestones

Graphics by AJP Song Ji-yoon

SEOUL, January 23 (AJP) - Asian equities finished the week on a firm footing Friday, with South Korea’s main stock indexes hovering near key psychological thresholds amid brisk sector rotation and steady foreign inflows.

The benchmark KOSPI rose 0.7 percent to close at 4,990.10, after briefly breaking above the 5,000 mark earlier in the session. Gains were capped by profit-taking near the milestone, though demand for large-cap shares remained intact. The KOSPI 200 also advanced 0.7 percent to 727.30.

The tech-heavy KOSDAQ moved even closer to a landmark of its own, jumping 2.43 percent to finish at 999.93, just shy of the 1,000 level.

Institutional and foreign investors absorbed retail selling around record highs. Foreigners posted net purchases of 133.3 billion won ($91 million) on the KOSPI, while institutions added 491.1 billion won. Retail investors sold a net 725.6 billion won, extending a pattern of profit-taking near peak levels.

Sector performance highlighted a sharp rotation. Healthcare services led gains, surging 9.4 percent, followed by IT services, up 7.2 percent.

Among major movers, Kakao Pay soared 29.9 percent to 67,800 won, while NAVER climbed 8.4 percent to 266,000 won. LG CNS rose 8.4 percent to 73,700 won. Semiconductor shares remained resilient, with SK hynix gaining 1.6 percent to 767,000 won.

Automakers and select battery stocks lagged. Hyundai Motor fell 3.6 percent to 510,000 won, while Samsung SDI slipped 3.0 percent to 373,000 won. Samsung Electronics was little changed, edging down 0.13 percent to 152,100 won.

Market attention increasingly shifted toward the KOSDAQ, which investors see as offering greater upside potential than the KOSPI at current levels. Foreign investors bought a net 86.7 billion won of KOSDAQ shares, while institutions added 987.4 billion won. Retail investors sold a net 1.0359 trillion won, underscoring rotation out of smaller names following the recent rally.

In currency and bond markets, signals were mixed. The won stabilized around 1,465.7 per dollar. Government bond yields rose, with the three-year yield at 3.14 percent and the 10-year at 3.59 percent.

Elsewhere in Asia, Japan’s Nikkei 225 edged up 0.29 percent to 53,846.87 after the Bank of Japan left its policy rate unchanged at 0.75 percent, easing concerns over faster tightening.

Regional sentiment was further supported after U.S. President Donald Trump said Washington would not proceed with additional tariffs linked to Greenland-related trade disputes, helping temper global risk aversion. In China, the Shanghai Composite Index rose 0.3 percent to 4,136.20, reinforcing the broadly positive tone across Asian markets.
Yoo Joonha Reporter joonhayoo94@ajupress.com

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