Kospi opens higher after robust Nvidia earnings
Published: 29 May. 2025, 10:28
![A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on May 29. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2025/05/29/860e1f6e-1aaa-4d22-a148-e65a6480a3ba.jpg)
A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on May 29. [YONHAP]
Shares opened higher Thursday, defying overnight losses on Wall Street, as technology shares were fueled by robust earnings from U.S. chip giant Nvidia.
The Kospi rose 22.59 points, or 0.85 percent, to 2,692.74 in the first 15 minutes of trading.
U.S. stocks closed lower overnight ahead of Nvidia's highly anticipated earnings release.
The Dow Jones Industrial Average declined 0.58 percent, and the tech-heavy Nasdaq composite shed 0.51 percent.
Nvidia reported a 69 percent on-year increase in revenue, reaching $44.1 billion for the February-April period. It also projected second-quarter revenue of around $45 billion, slightly higher than the previous quarter.
In Seoul, tech, automotive and shipbuilding stocks led gains.
Market bellwether Samsung Electronics rose 0.54 percent, and chip giant SK hynix jumped 2.16 percent.
Top carmaker Hyundai Motor climbed 0.65 percent, its smaller affiliate Kia rose 1.57 percent and leading shipbuilder HD Hyundai jumped 10.24 percent.
Among decliners, leading battery maker LG Energy Solution fell 1.73 percent, and leading refiner SK Innovation edged down 0.12 percent.
The local currency was trading at 1,379.95 won against the greenback at 9:15 a.m., down 3.45 won from the previous session.
Yonhap
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)