Tech-heavy Asian bourses rose on Friday, with KOSPI up over 1% on gains in chipmakers

Asian stocks were mixed on Friday as technology shares advanced tracking positive earnings from chipmaking bellwether TSMC, but losses in other sectors limited overall gains.

Tech-heavy Asian bourses rose on Friday, with KOSPI up over 1% on gains in chipmakers. Samsung Electronics Co Ltd surged 3.5%, while SK Hynix Inc advanced 0.8%.

This came largely after TSMC, the world’s largest contract chipmaker, clocked stronger-than-expected fourth-quarter earnings on Thursday, and signalled that artificial intelligence-fuelled demand remained strong.

TSMC climbed 2.1% to a record high in Taiwan trade.

The company is widely regarded as a bellwether for chip and AI demand, with its positive earnings sparking a rally across tech stocks.

Tech shares in Japan and Hong Kong also rose on Friday, although the Nikkei 225 and the Hang Seng were held back by losses in other sectors.

The Nikkei shed 0.5%, extending a decline from record highs hit earlier this week. The Hang Seng was flat.

Both indexes faced some profit-taking in major names after marking a strong start to the year. Concerns over a China-Japan diplomatic spat also remained in play.

Shanghai Shenzhen CSI 300 and Shanghai Composite indexes declined around 0.2% on Friday, extending losses after dropping from multi-year highs this week.

Focus remained on Beijing’s efforts to release more stimulus and support the Chinese economy, after data for December showed some signs of improvement, especially in Chinese spending.

Markets are awaiting key gross domestic product data for the fourth quarter, due on Monday, for more definitive cues on the Chinese economy. GDP is expected to have accelerated amid continued stimulus measures from Beijing and as the year-end holidays encouraged spending.

Focus will be squarely on whether the economy matched Beijing’s 5% annual GDP target.

Broader Asian markets were mixed on Friday. ASX 200 added 0.6% as bank stocks gained.

Straits Times index added 0.3% after data showed the country’s key non-oil exports declined much more than expected month-on-month in December.