KOSPI soars above 4,800 for first time while Nikkei tumbles

Graphics by AJP Song Ji-yoonSEOUL, January 16 (AJP) - Asian stock markets opened mixed in early trading on Friday, with South Korea's KOSPI hitting a fresh record high, while Japanese shares retreated on profit-taking.

In Seoul, the benchmark index rose 0.95 percent to 4,841.81, surpassing the 4,800 level for the first time on record, while the tech-heavy KOSDAQ lagged, slipping 0.43 percent to 947.06 shortly after the day's trading began.

Strong U.S. labor data kept the dollar firm, pushing the exchange rate for the South Korean currency to around 1,470 won per dollar.

With the won under pressure, market attention is shifting to exporters in growth sectors like semiconductors and autos, while banks and insurers face potential volatility.

Foreign investors offloaded shares in morning trading, while institutional and retail investors snapped them up.

Among large-cap stocks, Samsung Electronics jumped 3.61 percent to 149,100 won ($101.2), buoyed by improved investor sentiment following TSMC's record earnings, which showed a sharp rise in revenue and strong profit growth, while SK Hynix rose 1.20 percent to 758,000 won.

Samsung Life Insurance surged 6.64 percent to 171,800 won after hitting an intraday record high of 176,400 won, as expectations for a third revision to the Commercial Act were seen to have boosted investor sentiment.

LG Energy Solution edged up 0.51 percent to 394,000 won, while Samsung Biologics fell 3.31 percent to 1.90 million won, weighing on the biotechnology sector.

Automakers showed mixed performance, with Hyundai Motor rising 0.12 percent to 422,500 won, while Kia gained 2.75 percent to 156,700 won. Defense and aerospace stocks traded near flat, with Hanwha Aerospace up 0.08 percent at 1.30 million won.

Shipbuilding and heavy industry shares weakened, as HD Hyundai Heavy Industries fell 2.06 percent to 618,000 won and Hanwha Ocean declined 1.88 percent to 146,100 won.

Japanese shares pulled back, with the Nikkei 225 Index down 0.69 percent at 53,738.18 in intraday trading, as profit-taking following a three-day rally combined with weakness in U.S. technology stocks and renewed yen strength.

Elsewhere in Asia, China's Shanghai Composite Index rose 0.25 percent to 3,242.62.
Ryu Yuna Reporter Julia37@ajupress.com