NVIDIA Posts Strong Results, but KOSPI Remains Weak [fn Morning Market]

[Financial News] The KOSPI (Korea Composite Stock Price Index) is extending its weakness around the 6,800 level, despite an Earnings Surprise from NVIDIA Corporation, the global leader in AI semiconductors.
According to the Korea Exchange, as of 9:35 a.m. on the 28th, the KOSPI was down 0.64% from the previous session at 6,867.85. It opened 0.95% lower at 6,846.73.
By investor type, individuals were net buyers of 66.9 billion won, while foreigners and institutions were net sellers of 119.9 billion won and 90.1 billion won, respectively.
Among the largest-cap stocks, Samsung Electronics (-0.75%) and SK hynix (-0.64%) were broadly weak. In contrast, Samsung Electro-Mechanics (3.54%) and Hyundai Motor Company (0.23%) were rising.
Before the market opened, hopes for a rebound to the 7,000 level continued, driven by a rally led by Big Tech, including NVIDIA Corporation, which surged 7.8% overnight on the New York Stock Exchange. However, after the Bank of Korea (BOK) announced an interest rate hike the previous day and institutional selling intensified, the early-session mood appeared to be taking a breather.
The KOSDAQ (Korea Securities Dealers Automated Quotations) is also hovering in slightly negative territory. At the same time, the KOSDAQ was trading down 0.49% from the previous day at 833.51. Individuals bought 103.7 billion won, while foreigners and institutions sold 83.6 billion won and 17.7 billion won, respectively.[email protected] Han Young-joon Reporter