South Korean stocks experienced a robust opening on Thursday, driven by a surge in semiconductor shares following US chipmaker Nvidia Corp.’s impressive earnings report.
The Korea Composite Stock Price Index (KOSPI), the benchmark index, climbed 90.76 points, or 1.49 percent, reaching 6,174.62 within the first 15 minutes of trading.
Overnight, US markets closed higher, with the Dow Jones Industrial Average increasing by 0.63 percent and the Nasdaq Composite gaining 1.26 percent.
Nvidia’s fourth-quarter revenue of $68.13 billion surpassed analyst expectations, reigniting optimism surrounding the potential of artificial intelligence (AI) technology.
In Seoul, semiconductor stocks spearheaded the early gains.
Samsung Electronics shares rose by 4.42 percent, while SK hynix saw an increase of 2.16 percent. Hanmi Semiconductor, a leading chip equipment manufacturer, experienced a significant surge of 11.19 percent.
Tech giants Naver and Kakao also saw gains, advancing 3.56 percent and 5.57 percent, respectively.
Automobile manufacturer Hyundai Motor added 0.17 percent, and battery producer LG Energy Solution increased by 2.7 percent.
