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Kospi opens lower while Nvidia posts strong results

Published: 27 Feb. 2025, 09:46

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Feb. 26. [NEWS1]

Seoul shares started lower Thursday on lingering tariff woes despite the better-than-expected quarterly results of AI chip giant Nvidia.

The Kospi added 11.19 points, or 0.42 percent, to 2,629.90 in the first 15 minutes of trading.

Overnight, Wall Street finished mixed ahead of the Nvidia results, which were released after the market closed.

The Dow Jones Industrial Average fell 0.43 percent and the Nasdaq composite rose 0.26 percent.

After the closing bell, Nvidia reported $22 billion in net income and $39.3 billion in revenue in the fourth quarter that ended in late January on rising demand for its new top-of-the-line Blackwell processors, beating market expectations.

In Seoul, most shares started in mixed territory.

Hyundai Motor dropped 2.2 percent and LG Energy Solution declined 1.47 percent.

Hana Financial Group fell 3.2 percent and Celltrion lost 2.32 percent.

SK hynix remained flat and Hanmi Semiconductor climbed 0.2 percent.

Shipbuilder Hanwha Ocean rose 2.48 percent and Nongshim added 0.72 percent.

The local currency was trading at 1,435.05 won against the dollar at 9:15 a.m., up 2.05 won from the previous session.

Yonhap