KOSPI closes up 1% at 6,912 as NVIDIA earnings beat offsets rate hike [fn market close]

[Financial News] The KOSPI pared gains after the Bank of Korea raised its base rate, despite strong NVIDIA earnings, and finished the day up more than 1%.
According to the Korea Exchange on the 27th, the KOSPI closed at 6,912.37, up 104.16 points, or 1.53%, from the previous trading day. It opened at 6,996.12, up 187.91 points, or 2.76%, but later gave back some of those gains.
On the Korea Exchange Main Board, institutions and foreigners were net buyers of 181.4 billion won and 145.6 billion won, respectively. Retail investors were net sellers of 1.912 trillion won.
Among the large-cap stocks, AI semiconductor-related shares such as Samsung Electronics (1.72%), SK hynix (2.49%), SK Square (0.95%), and Samsung Electro-Mechanics (4.13%) rose. LG Energy Solution (5.56%), KB Financial Group (0.90%), Mobile Tactical Cannon program (5.80%), and Doosan Enerbility (0.12%) also closed higher. Hyundai Motor Company (-2.45%), Samsung Biologics (-0.31%), Samsung Life Insurance (-0.81%), and Samsung C&T Corporation (-3.10%) fell.
By sector, Electrical and Electronics (2.62%), Metals (2.30%), Manufacturing (2.04%), Medical and Precision Instruments (1.40%), and nonmetal (0.72%) were strong. Distribution (-2.36%), Electricity and Gas (-2.05%), Food, Beverage & Tobacco (-1.56%), Textiles and Apparel (-1.23%), real estate (-1.19%), and insurance (-1.07%) were weak.
Backed by NVIDIA's strong results, the KOSPI had initially aimed to reclaim the 7,000 level, led by AI semiconductor stocks. However, gains were partly capped after the BOK announced its second consecutive base rate hike.
Kim Joo-yeon, a researcher at Mirae Asset Securities, said, "Semiconductor stocks opened strong after NVIDIA's better-than-expected earnings, which were released early this morning after the U.S. market closed." She added, "However, the upside was limited."
The KOSDAQ closed at 837.65, up 10.78 points, or 1.30%, from the previous session. It opened at 828.42, up 1.55 points, or 0.19%, from the prior trading day. The index briefly turned lower right after the BOK announced the rate hike, but it recovered to end the day higher in the afternoon.
On the KOSDAQ, foreigners and institutions bought 89.1 billion won and 62 billion won worth of shares, respectively. Retail investors sold 149.2 billion won worth.

[email protected] Lim Sang-hyeok Reporter