Seoul Stocks Close Higher, Boosted by Nvidia’s Strong Earnings

SEOUL — The South Korean stock market ended its trading session higher on Friday, buoyed by foreign investors' interest in local technology shares following robust earnings results from Nvidia, the AI chip behemoth. However, the Korean won weakened against the U.S. dollar.

According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) rose by 3.43 points, or 0.13 percent, to close at 2,667.7, marking its second consecutive day of gains. The trading volume was moderate, with 409.4 million shares changing hands, valued at approximately 10.1 trillion won (US$7.59 billion). Despite the overall positive trend, there were more decliners (514) than gainers (341) during the session. Foreign investors led the buying spree, purchasing a net 148.8 billion won worth of shares, offsetting the net sales by institutions and individuals, which stood at 56.1 billion won and 110.2 billion won, respectively. Analyst Lee Jae-won from Shinhan Securities Co. highlighted the foreign investors' focus on South Korean semiconductor stocks, notably SK hynix, in the wake of the rally in U.S. stocks led by Nvidia. Additionally, investors are closely monitoring the government's upcoming "value-up" programs aimed at enhancing the market value of underappreciated shares. Notably, SK hynix saw a significant increase, jumping 3.13 percent, as it benefits from its association with Nvidia. Conversely, Samsung Electronics saw a slight decline. The financial sector, however, showed strength, with notable gains in shares of Hana Financial Group and Samsung Fire & Marine Insurance.

The Korean won concluded the trading day at 1,331 won against the U.S. dollar, a decrease of 2.3 won from the previous session's close.

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