Kospi closes 0.42% higher as market awaits Nvidia's Q3 earnings
Published: 20 Nov. 2024, 16:37
Updated: 20 Nov. 2024, 19:24
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- CHO YONG-JUN
- [email protected]
![A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,482.29 points on Wednesday, up 0.42 percent, or 10.34 points, from the previous trading session. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2024/11/20/60a3b6bd-e985-49a4-9964-0a9c07720044.jpg)
A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,482.29 points on Wednesday, up 0.42 percent, or 10.34 points, from the previous trading session. [YONHAP]
Shares extended their winning streak to a third straight day Wednesday as investors awaited the third quarter earnings of U.S. AI chip giant Nvidia. The local currency remained unchanged against the dollar.
The benchmark Kospi added 10.34 points, or 0.42 percent, to close at 2,482.29. The Kosdaq lost 3.21 points, or 0.47 percent, to close at 682.91.
Trade volume was moderate at 400.3 million shares worth 7.7 trillion won ($5.53 billion), with gainers closely outpacing losers 435 to 420.
Foreigners and individuals offloaded a net 187 billion won and 84.7 billion won, respectively, while institutions scooped up a net 170.7 billion won. Foreign investors remained net sellers for the ninth consecutive session.
Overnight on Wall Street, the tech-heavy Nasdaq composite index finished more than 1 percent higher, led by optimism for Nvidia's quarterly results the following day.
In Seoul, semiconductor stocks finished in mixed territory as chipmaker SK hynix, who supplies HBM to Nvidia, remained unchanged at 176,000 won, and Hanmi Semiconductor rose 1.11 percent to 81,700 won.
Samsung Electronics, however, fell 1.78 percent to 55,300 won.
Hyundai Motor advanced 1.39 percent to 218,500 won while Kia gained 2.94 percent to 98,100 won.
LG Energy Solution increased 1.78 percent to 400,500 won.
NCsoft gained 3.37 percent to 215,000 won.
SK Telecom went up 2.16 percent to 56,700 won while KT rose by 3.71 percent to 43,300 won.
CJ CheilJedang jumped 5.18 percent to 284,500 won on rumors that the company is considering selling its green bio division. HD Hyundai advanced 5.12 percent to 11,500 won.
The local currency was trading at 1,390.9 won against the greenback at 3:30 p.m., staying flat from the previous session.
Bond prices, which move inversely to yields, closed higher. The yield on three-year government bonds fell 2.1 basis points to 2.873 percent, and the return on the benchmark 10-year U.S. government bonds fell 1.7 basis points to 4.398 percent.
BY CHO YONG-JUN [[email protected]]
with the Korea JoongAng Daily
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