Global Market: KOSPI rises as investors await Nvidia results for AI trade cues

South Korean shares edged higher on Wednesday as investors turned cautiously optimistic ahead of Nvidia’s quarterly earnings, with the results expected to provide fresh clues on the profitability and sustainability of the artificial intelligence industry.

The benchmark KOSPI was up 29.97 points, or 0.44%, at 6,772.71 as of 0211 GMT. Semiconductor stocks led gains, with Samsung Electronics rising 0.78% and SK Hynix advancing 0.72%. Battery maker LG Energy Solution fell 0.29%.

According to Reuters, Nvidia’s results, due later on Wednesday, are being closely watched by investors globally as a key potential catalyst for markets and the broader AI trade.


Among other major stocks, Hyundai Motor fell 0.59%, while Kia declined 1.56%. POSCO Holdings dropped 1.73%, while Samsung BioLogics gained 0.50%.

Kia and its South Korean labour union reached a tentative wage agreement, according to the company and union, averting partial strikes that had been scheduled to begin later in the day. Reuters reported that the agreement followed weeks of negotiations and removed the immediate threat of production disruptions at Kia’s domestic plants.

Market breadth was relatively balanced, with 439 of the 907 traded stocks advancing and 429 declining. Foreign investors were net sellers of shares worth 509.3 billion won.

The South Korean won strengthened 0.07% against the dollar to 1,383.1 on the onshore settlement platform, compared with 1,384.0 at the previous close. In offshore trading, the won was quoted at 1,382.1 per dollar, while its one-month non-deliverable forward contract stood at 1,381.4.

The KOSPI has gained 60.71% so far this year, while the won has strengthened 4.1% against the dollar over the same period.

South Korean government bond yields also moved lower. September three-year Treasury futures rose 0.11 point to 103.40. The yield on the most liquid three-year Korean Treasury bond fell 4.0 basis points to 3.787%, while the benchmark 10-year yield declined 8.1 basis points to 4.261%.

Investors are now awaiting Nvidia’s results for indications on demand for AI chips and the pace of spending on artificial intelligence infrastructure, developments that could influence technology stocks and broader global markets.

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