Memory chip slump hits South Korea's KOSPI, Japan's Nikkei gains

Asian stocks traded cautiously Friday, with South Korea's KOSPI down 0.5% and heading for a 5% weekly loss, while Japan's Nikkei 225, despite a 0.9% drop, remained on track for a 1.2% weekly gain. The KOSPI faced a seventh straight weekly decline, hurt by concentrated exposure to memory chips; Samsung Electronics and SK Hynix represent about 53% of index value. The Nikkei showed relative resilience, supported by a weaker yen even as AI-related stocks like Lasertec and SoftBank fell sharply. Investors are awaiting U.S. July jobs data and monitoring rising oil prices, which could determine whether the divergence between the two markets widens or narrows.