SEOUL, November 20 (AJP) - Asian markets rebounded in early Thursday trading as another round of blockbuster Nvidia earnings effectively silenced the “AI bubble” narrative.
South Korea’s benchmark KOSPI climbed 2.6 percent to 4,030 as of 10:30 a.m., reclaiming the 4,000 mark for the first time in three days. Foreign investors turned net buyers at 267 billion won ($182 million), while institutions purchased 299 billion won. Retail investors, however, sold 577.5 billion won, locking in profits after recent volatility.
The Korean won nonetheless weakened further, trading at 1,467.5 won per dollar, down 2 won from the previous session, amid suspected smoothing intervention as the pair approached 1,470.
Just before markets opened, Nvidia announced at 7 a.m. KST that it had posted record third-quarter revenue of $57 billion and operating profit of $37.7 billion, the strongest in its history for the period. The news triggered an immediate reaction in semiconductor-heavy Asian markets, particularly Seoul.
South Korean chipmakers rallied sharply. SK hynix rose 4.5 percent to 587,000 won, while Samsung Electronics gained 4.4 percent to 101,000 won, pushing the stock back above the psychologically important 100,000-won threshold.
AI-related stocks also surged. Naver jumped 3.6 percent to 257,500 won, and Hyundai AutoEver added 2.8 percent to 191,500 won, supported by expectations that major Korean conglomerates will continue heavy investment in AI and software-defined vehicle technologies.
Nuclear and power-equipment names advanced on expectations of rising electricity demand and optimism surrounding energy cooperation. Hyundai Engineering & Construction rose 3.1 percent to 62,500 won, while Doosan Enerbility gained 5.3 percent to 78,500 won, boosted by Wednesday’s announcement of a Korea–UAE memorandum of understanding on nuclear technology cooperation.
Transformer manufacturers also rallied. HD Hyundai Electric increased 4.5 percent to 818,000 won, and Hyosung Heavy Industries climbed 3 percent to 2,080,000 won. Samsung Electro-Mechanics, a key supplier of circuit boards for AI data centers and automotive electronics, extended its momentum for a second day, rising 4.9 percent to 225,500 won.
Japan’s Nikkei 225 posted the strongest gains in the region, soaring as much as 3.7 percent to 50,336. Semiconductor suppliers surged across the board, with Advantest up 10.7 percent to 21,200 yen ($135), Tokyo Electron up 6.4 percent, and Ibiden jumping 11.7 percent to 13,000 yen on strong sentiment tied to Nvidia’s results.
Taiwan’s TAIEX opened 3 percent higher at 27,377.04, led by chipmakers. TSMC advanced 4.3 percent to 1,455 Taiwan dollars ($46.6), MediaTek added 1 percent, and Hon Hai Precision Industry (Foxconn) climbed 3.3 percent.
Mainland Chinese markets opened firmer as well. The Shanghai Composite Index rose 0.33 percent to 3,960, while the Shenzhen Composite gained 0.76 percent to 13,178. Hong Kong’s Hang Seng Index added 0.6 percent to 25,980 in early trading.
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