SEOUL: Round-up of South Korean financial markets:
South Korean shares fell to a two-week low on Thursday, as heavyweight chipmakers dropped after U.S. artificial intelligence firm Nvidia’s earnings disappointed investors.
The benchmark KOSPI was down 22.71 points, or 0.84%, at 2,667.12 as of 0046 GMT, after falling as much as 1.5% earlier in the day to hit its lowest since Aug. 14.
Chipmaker Samsung Electronics fell 2.75% and peer SK Hynix lost 4.80%. They account for a combined 30% of the benchmark index by market value.
Nvidia’s shares fell sharply after the company’s quarterly forecast failed to meet lofty expectations of investors who have driven a dizzying rally in its stock as they bet billions on the future of generative artificial intelligence.
South Korea’s president will speak at his second press conference of the year on Thursday on a wide range of topics, which will likely include the economy.
Among other index heavyweights, automakers and battery manufacturers rose, while e-commerce and biopharmaceutical stocks fell.
South Korean stocks close higher ahead of US inflation data
Of the total 924 traded issues, 232 shares advanced, while 638 declined.
Foreigners were net sellers of shares worth 210.3 billion won ($157.49 million).
The won was quoted at 1,336.4 per dollar on the onshore settlement platform, 0.04% higher than its previous close at 1,337.0.
In money and debt markets, September futures on three-year treasury bonds fell 0.02 point to 105.87.
The most liquid three-year Korean treasury bond yield fell by 0.3 basis point to 2.915%, while the benchmark 10-year yield fell by 0.5 basis point to 3.060%.
Source: Brecorder
