Shares climb with all eyes on upcoming Nvidia earnings

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Shares climb with all eyes on upcoming Nvidia earnings

Published: 19 Nov. 2024, 17:01

CHO YONG-JUN
[email protected]

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,471.95 points on Tuesday, up 0.12 percent, or 2.88 points, from the previous trading session. [YONHAP]

Shares rose for the second straight day Tuesday following a sharp gain the previous session ahead of the release of AI giant Nvidia's third quarter earnings. The local currency rose for the third consecutive day against the dollar.

The benchmark Kospi climbed 2.88 points, or 0.12 percent, to close at 2,471.95.

The main index soared 2.16 percent Monday, marking the largest gain since Sept. 26.

The Kosdaq lost 3.43 points, or 0.50 percent, to close at 686.12.

Trade volume was moderate at 401.2 million shares worth 8.9 trillion won ($6.4 billion), with gainers outpacing losers 458 to 409.

Foreigners and individuals off-loaded a net 331 billion won and 168.1 billion won, respectively, while institutions scooped up a net 457.7 billion won. Foreign investors remained net sellers for the eighth consecutive session.

Overnight on Wall Street, the tech-heavy Nasdaq composite increased 0.6 percent as investors awaited Nvidia's third quarter results due later this week.

In Seoul, most shares closed in mixed territory.

Samsung Electronics fell 0.71 percent to 56,300 won following a 5.98 percent jump the previous day after dipping to its lowest point in more than four years. On Friday, the tech giant announced a 10 trillion won buyback plan.

SK hynix retreated 0.64 percent to 170,600 won while Hanmi Semiconductor gained 0.25 percent to close at 80,800 won.

Hyundai Motor fell 0.69 percent to 215,500 won, and Hyundai Mobis skidded 3.09 percent to 250,500 won.

Energy stocks rallied, with SK Innovation surging 10.3 percent to 112,400 won and the state-run Korea Gas Corp. vaulting 9.26 percent to 46,000 won.

HD Korea Shipbuilding & Offshore Engineering rose 2.47 percent to 199,200 won, and CJ CheilJedang jumped 5.05 percent to 270,500 won.

The local currency was trading at 1,390.9 won against the greenback at 3:30 p.m., down 4.3 won from the previous session, extending its rise for a third day.

Bond prices, which move inversely to yields, closed mixed. The yield on three-year government bonds fell 2.7 basis points to 2.915 percent, and the return on the benchmark 10-year U.S. government bonds rose 0.1 basis points to 4.440 percent.

BY CHO YONG-JUN, YONHAP [[email protected]]