Asian Shares Mixed; Kospi Crosses 4,800 For First Time

(RTTNews) - Asian stocks ended mixed on Friday despite Wall Street snapping a two-day losing streak overnight. Regional chip stocks ended mostly higher on revived AI-driven growth optimism after TSMC posted record quarterly profits of $16 billion.

The dollar index stabilized near 99.50 as strong jobless claims prompted traders to pare rate-cut expectations.

Gold dipped from recent record highs to hover around $4,600 an ounce while oil edged up slightly after falling nearly 4 percent on Thursday to snap a five-day winning streak on easing Iran-U.S. tensions.

China's Shanghai Composite index dipped 0.26 percent to 4,101.91 after Beijing signaled limits on Nvidia H200 imports.

Hong Kong's Hang Seng index ended down 0.29 percent at 26,844.96 ahead of forthcoming economic growth data from China slated for release on Monday.

Japanese markets closed lower due to political uncertainty ahead of a February vote.

The snap general election is likely to be held on Feb. 8, with official campaigning starting from Jan. 27, senior members of ruling parties reportedly said.

The Nikkei average slipped 0.32 percent to 53,936.17, extending losses from the previous session dragged down by heavyweights like Fast Retailing and Tokyo Electron. The broader Topix index settled 0.28 percent lower at 3,658.68.

Seoul stocks hit another new high as momentum in the artificial intelligence sector picked up. The benchmark Kospi jumped 0.90 percent to 4,840.74, breaking past the 4,800 level for the first time in both intraday trading and closing.

Market heavyweight Samsung Electronics rallied 3.5 percent to close at 148,900 won, after climbing as high as 149,500 won a share during intraday trading.

Australian markets eked out modest gains to near a three-month closing high, driven by gains in banking stocks.

The benchmark S&P/ASX 200 rose 0.48 percent to 8,903.90, extending its winning streak to five sessions. The broader All Ordinaries index ended up 0.46 percent at 9,226.70.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index closed up 0.43 percent at 13,718.10 after a survey showed New Zealand's manufacturing industry expanded at the fastest pace in four years in December.

U.S. stocks ended higher overnight as chip and bank stocks rebounded from losses over the two previous sessions on upbeat earnings news from the likes of Taiwan Semiconductor, Goldman Sachs and Morgan Stanley.

A sharp pullback in oil prices on easing geopolitical tensions and new data pointing to a solid jobs market also contributed to the upside.

Data showed U.S. jobless claims unexpectedly dropped to the lowest since November last week, defying economists' estimates.

The Dow gained 0.6 percent, while the tech-heavy Nasdaq Composite and the S&P 500 both edged up by 0.3 percent.