South Korea’s KOSPI rises 1.53% to 6,912.37 points

South Korea’s KOSPI index closed 104.16 points higher at 6,912.37 on Aug. 27, advancing 1.53% and finishing above 6,900. The index opened at 6,996.12, up 2.76%, and briefly attempted to cross 7,000 as Nvidia’s stronger-than-expected results improved sentiment toward artificial-intelligence and semiconductor stocks. The Bank of Korea Monetary Policy Board’s 0.25 percentage-point increase in the benchmark interest rate to 3.00% from 2.75% later narrowed the advance. Other institutions led KOSPI buying with net purchases of 1.5861 trillion won, while foreign investors bought 582.8 billion won and institutions bought 459.5 billion won; individual investors sold more than 2.6283 trillion won. Samsung Electronics and SK Hynix gained, although reported increases differ between market accounts. Nvidia reported second-quarter revenue of $96.22 billion, up 106% year-on-year, and adjusted EPS of $2.22, both above expectations. The KOSDAQ also rose 1.30% to 837.65. Earlier market data cited by BlockBeats put KOSPI turnover at 265.5 million shares worth 22.5 trillion won ($16.3 billion), with decliners outnumbering gainers 537 to 316, and said the Korean won strengthened against the U.S. dollar.

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