The KOSPI index recovered above 6,900 points, buoyed by Nvidia's strong earnings and positive guidance. The U.S. personal consumption expenditures (PCE) price index for July largely met market expectations, easing inflation concerns and leading to increased buying in semiconductor stocks. However, the rise was limited due to the Bank of Korea's interest rate hike and caution ahead of the Jackson Hole meeting.
On the 27th, the KOSPI closed at 6,912.37, up 104.16 points (1.53%) from the previous trading day. The KOSDAQ also rose, finishing at 837.65, up 10.78 points (1.30%).
Foreign and institutional investors were net buyers, purchasing 152.4 billion won and 177.6 billion won, respectively. In contrast, individual investors sold a net 1.915 trillion won, with other corporations buying a net 1.5952 trillion won.
Semiconductor stocks showed strong performance across the board. Samsung Electronics rose 1.72%, SK Hynix increased by 2.49%, while Samsung Electro-Mechanics and LG Energy Solution saw gains of 4.14% and 5.56%, respectively. In the KOSDAQ, Simtek surged 12.60%, and EcoPro and EcoPro BM rose by 5.75% and 5.83%, respectively, along with Rainbow Robotics, which increased by 4.55%.
Nvidia's results have boosted investor sentiment for domestic semiconductor stocks. The company reported second-quarter revenue for the fiscal year 2027 of $96.22 billion, a 106% increase from the same period last year. Data center revenue reached $89 billion, up 117% year-over-year and 18% from the previous quarter, accounting for 92% of total revenue.
Lee Kyung-min, a researcher at Daishin Securities, stated, "Nvidia's forecast of approximately 70% revenue growth for fiscal year 2028 has shifted sentiment positively in after-hours trading. The solid investment in AI and the growth potential of semiconductors have reinforced investor confidence across related sectors."
The U.S. July PCE price index rose 3.7% year-over-year and 0.2% month-over-month. The core PCE price index also increased by 3.3% year-over-year and 0.2% month-over-month, aligning with market expectations. However, concerns over interest rates have limited the upward momentum of the stock market. The Bank of Korea raised its benchmark interest rate by 25 basis points in August, marking the second consecutive month of increases.
The researcher added, "As caution regarding tightening measures continues, the potential for further upward movement in the stock market will be limited."
* This article has been translated by AI.
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