KOSPI rises more than 1% as Nvidia earnings boost semis
KOSPI climbed more than 1% to around 6,900 for a third straight session, supported by stronger-than-expected Nvidia earnings and its forecast for fiscal 2028 income growth of 70%. Samsung and SK hynix rose over 1% and 2%.
The benchmark KOSPI climbed more than 1% to around 6,900 on Thursday, extending gains for a third straight session, supported by stronger-than-expected Nvidia earnings.
Nvidia's revenue more than doubled in the second quarter, and its forecast for fiscal 2028 income growth of 70% exceeded analyst expectations, easing concerns over AI and semiconductor demand.
Semiconductor stocks led the advance, with Samsung Electronics and SK hynix rising over 1% and 2%, respectively.
Other notable performers included LG Energy Solution (3.9%), Hanwha Aerospace (2.7%), KB Financial Group (1.8%), Shinhan Financial Group (2.2%), and HD Hyundai Heavy Industries (1.1%).
Additionally, the Bank of Korea raised its 2026 growth forecast to 3.3% from 2.6%, citing stronger-than-expected semiconductor exports and a robust economic recovery.
However, the central bank also raised its benchmark interest rate by 25 basis points to 3%, marking a second consecutive hike amid persistent inflationary pressures.