KOSPI rises 1.5% as Nvidia earnings beat lifts Asia stocks after Bank of Korea hike

South Korea’s KOSPI rose 1.5% on Thursday, paring early gains after the Bank of Korea raised interest rates by 25 basis points to 3%, as Nvidia’s estimate-beating results revived Asia-Pacific tech sentiment. The AI chipmaker reported quarterly revenue that more than doubled and forecast third-quarter revenue above Wall Street estimates, lifting its shares 4.7% after hours and supporting semiconductor-linked markets. MSCI’s broadest Asia-Pacific index excluding Japan was up 0.7%, Taiwanese shares gained 0.9%, and the Nikkei 225 slid 0.4%. Overnight the S&P 500 closed flat after July personal consumption expenditures rose 0.2% month-on-month, a firmer inflation backdrop ahead of the September FOMC meeting. The KOSPI had opened sharply higher—up as much as 2.76% to 6,996.12—extending a prior-session rebound to 6,808.21 before the rate decision trimmed gains.

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