KOSPI Opens Higher, Boosted by Strong NVIDIA Earnings

 
 
The KOSPI opened higher today, driven by strong performances from semiconductor giants following NVIDIA's impressive earnings report.
 
As of 9:05 a.m., the KOSPI rose by 161.70 points (2.38%) to reach 6969.92. Foreign investors purchased a net 72.2 billion won, while institutions and individuals sold a net 80.2 billion won and 9.8 billion won, respectively.
 
Among the top market capitalization stocks, SK Hynix saw a 4.74% increase. Other semiconductor-related stocks also experienced significant gains, including Samsung Electronics (3.06%), SK Square (4.06%), and Samsung Electro-Mechanics (3.83%). Samsung Electronics preferred shares rose by 1.63%, and LG Energy Solution increased by 1.00%.
 
The KOSDAQ also showed an upward trend, with the index rising by 5.79 points (0.70%) to 832.66 at the same time. Individual investors net bought 19.4 billion won, while foreign and institutional investors sold a net 11.7 billion won and 7.2 billion won, respectively. Stocks such as JW Engineering (2.42%), EO Technics (1.87%), and Wonik IPS (1.74%) gained, while Alteogen (-0.32%) and Pharma Research (-0.68%) declined.
 
In overnight trading on the U.S. stock market, the July Personal Consumption Expenditures (PCE) price index met market expectations, easing inflation concerns. Following NVIDIA's earnings announcement, after-hours trading saw its stock rise by over 4%. Micron and SanDisk also experienced gains of over 3% in after-hours trading, boosting investor sentiment for domestic semiconductor stocks.
 
Han Ji-young, a researcher at Kiwoom Securities, stated, "The domestic market is expected to open higher, driven by relief over the July PCE inflation data and the 4% rise in NVIDIA's after-hours stock, along with the 3% increases in Micron and SanDisk. We anticipate a broad upward trend across sectors during the trading day."