SEOUL: Round-up of South Korean financial markets:
-
South Korean shares closed nearly 2% higher on Thursday, as chipmakers jumped following upbeat demand forecasts from Nvidia that eased investor worries around artificial intelligence stocks.
-
The benchmark KOSPI closed up 75.34 points, or 1.92%, at 4,004.85, after two consecutive sessions of losses.
-
Nvidia CEO Jensen Huang on Wednesday shrugged off concerns about an AI bubble as the company surprised Wall Street with accelerating growth after several quarters of slowing sales.
-
“Today’s gains in Samsung Electronics and SK Hynix show the AI rally is yet to come to an end,” said Huh Jae-hwan, an analyst at Eugene Investment Securities.
-
Chipmaker Samsung Electronics rose 4.25% and peer SK Hynix gained 1.60%, leading the benchmark index higher.
-
Battery maker LG Energy Solution climbed 0.80%, but Hyundai Motor and sister automaker Kia Corp were down 0.76% and 0.96%, respectively.
-
Of the total 928 traded issues, 751 shares advanced, while 141 declined.
-
Foreign investors were net buyers of shares worth 641.3 billion won ($436.79 million).
-
The won was quoted at 1,467.9 per dollar on the onshore settlement platform, 0.04% higher than its previous close at 1,468.5.
-
In money and debt markets, December futures on three-year treasury bonds slipped by 0.10 point to 105.81.
-
The most liquid three-year Korean treasury bond yield rose by 2.8 basis points to 2.903%, while the benchmark 10-year yield rose by 3.5 basis points to 3.320%.
American Dollar Exchange Rate