Japanese stocks decline amid fears of further yen-buying intervention, while Korean markets split as Kospi weakens and Kosdaq gains on institutional demand.
Japan’s Nikkei 225 fell 0.11% and the Topix slid 0.26% by midday, pressured by concerns over additional yen-buying intervention. The dollar/yen pair’s sharp move from around 163 highlighted the force of recent official action, with investors pricing in potential repeated measures rather than a one-off event.
Exporters faced renewed headwinds from a stronger yen, overshadowing Toyota’s upcoming quarterly results. In Korea, the Kospi struggled under AI spending concerns, while the Kosdaq surged for a third session on heavy institutional buying, triggering buy-side-only curbs.
Korean inflation data came in softer than expected but failed to offset broader market weakness. The divergence between the two indices underscored persistent momentum-driven flows in smaller-cap stocks.