South Korean shares flat as market awaits Nvidia earnings

SEOUL: Round-up of South Korean financial markets:

South Korea stocks rise on moves to scrap planned tax on financial investments

• South Korean shares traded flat on Tuesday, while investors awaited US chipmaker Nvidia’s earnings later in the week for cues on global chip demand.

• The benchmark KOSPI gained 3.58 points, or 0.14%, at 2,473.38 as of 0128 GMT, after rising 2.2% on Monday.

• Chipmaker Samsung Electronics added 0.35%, after rising sharply for two consecutive sessions on a surprise share buyback plan. However, peer SK Hynix was flat.

• AI darling Nvidia will report its third-quarter earnings on Wednesday, when investors will assess the global chip demand and the sustainability of the AI euphoria that drove much of the market’s rally this year.

• Among other index heavyweights, e-commerce and biopharmaceutical stocks rose, while automakers fell. Battery makers remained mixed.

• Of the total 933 traded issues, 448 shares advanced, while 399 declined.

• Foreigners net sold shares worth 34.9 billion won ($25 million).

• The won was quoted at 1,393.1 per US dollar on the onshore settlement platform, 0.03% higher than its previous close at 1,393.5.

• In money and debt markets, December futures on three-year treasury bonds rose 0.04 point to 105.93.

• The most liquid three-year Korean treasury bond yield fell by 1.7 basis points to 2.900%, while the benchmark 10-year yield fell by 2.3 basis points to 3.047%.