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SEOUL, February 24 (AJP) — Asian markets traded mostly higher Tuesday, with the exception of Hong Kong, as investors digested the rollout of a blanket 10 percent U.S. import levy that replaced earlier, steeper tariffs under former President Donald Trump following a Supreme Court ruling last week.

South Korea’s benchmark KOSPI roared higher, pushed by chip titans Samsung Electronics and SK hynix, which hit fresh milestones of 200,000 won and 1 million won, respectively.

Samsung rose 3.63 percent to close at 200,000 won, while SK hynix climbed 5.68 percent to 1,005,000 won, as analysts cited strengthening fundamentals in the memory sector.

Park Jun-young of Hanwha Investment & Securities said stronger pricing leverage for next-generation HBM4 chips, backed by robust capacity, is expected to drive Samsung’s earnings growth. He set a new target price of 260,000 won.

Han Dong-hee of SK Securities said memory demand is becoming structurally linked to the AI investment cycle, improving earnings visibility for SK hynix. He added that a potential U.S. ADR listing could highlight the stock’s undervaluation, raising his target to 1.6 million won.

The chip-led rally pushed the KOSPI above the 5,900 mark to finish at 5,969.64, up 2.11 percent and edging closer to the symbolic 6,000 level — less than a month after breaking through 5,000.

The tech-heavy KOSDAQ gained 1.13 percent to 1,165.00.

The won strengthened amid cautious risk sentiment over U.S. trade policy, with the dollar falling 2.30 won to 1,143.70.

Institutional investors drove the rally, net buying 2.38 trillion won ($2.08 billion) worth of shares. Individual and foreign investors sold a net 2.29 trillion won and 196 billion won, respectively.

Non-chip large-cap stocks showed mixed moves.

SK Square jumped 6.38 percent to 617,000 won, while Samsung Life Insurance fell 3.45 percent to 224,000 won.

Samsung Biologics edged up 0.35 percent to 1,723,000 won, and LG Energy Solution rose 4.17 percent to 412,500 won.

In defense and aerospace, Hanwha Aerospace added 0.40 percent to 1,241,000 won.
Shipbuilders retreated, with HD Hyundai Heavy Industries down 1.81 percent and Hanwha Ocean falling 2.79 percent.

Auto shares were modestly higher. Hyundai Motor rose 0.19 percent, while Kia advanced 0.75 percent.

Entertainment shares remained sidelined despite BTS’s announcement of a comeback concert at Gwanghwamun Square next month, reflecting heavy concentration in AI-driven large caps.

HYBE slipped 0.62 percent, JYP Entertainment fell 0.85 percent, while YG Entertainment gained 0.68 percent.

Analysts said major artist comebacks are now largely priced in, limiting their impact as stock catalysts.

Elsewhere in Asia, Japan’s Nikkei 225 added 0.87 percent, while Hong Kong’s Hang Seng Index fell 1.93 percent.

China’s Shanghai Composite rose 0.85 percent after the central bank kept its loan prime rates unchanged for a ninth straight month.

China’s Ministry of Commerce said it added 20 Japanese firms and institutions to its export control list, banning exports of dual-use items with immediate effect — a move that added fresh geopolitical uncertainty and could cap further gains in mainland markets.

Ryu Yuna Reporter Julia37@ajupress.com

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