Ahead of the earnings announcement from U.S. artificial intelligence (AI) chip manufacturer Nvidia, the New York stock market demonstrated strength overnight, while the Korean stock market opened lower on the 28th. Although a Monetary Policy Committee meeting is scheduled for this day at the Bank of Korea, the market is expecting the benchmark interest rate to remain unchanged, suggesting it will not have a significant impact.
As of 9:06 a.m. on this day, the KOSPI index recorded a drop of 12.54 points (0.39%) to 3174.62 compared to the previous trading day. The KOSPI index opened at 3175.33, down 1.23 points (0.15%) from the previous session.
The top market capitalization stocks are on a downward trend. The semiconductor leader Samsung Electronics and SK hynix have declined by 0.85% and 2.50%, respectively. Preferred shares of Samsung Electronics are down 0.78%. Samsung Biologics, Hanwha Aerospace, HD Hyundai Heavy Industries, Hyundai Motor, and KB Financial are also experiencing declines. In contrast, LG Energy Solution and Kia are rising.
At the same time, the KOSDAQ index is trading at 798.59, down 3.13 points (0.39%). The KOSDAQ index opened at 800.49, down 1.23 points (0.15%) from the previous trading day.
Among the top 10 stocks by market capitalization, Alteogen, ECOPRO BM, Ecopro, Rainbow Robotics, LigaChem Biosciences, and ABL Bio are on the rise. Conversely, Peptron, PharmaResearch, HLB, and Sam Chun Dang Pharm are in decline.
On the 27th (local time), the three major indices on the New York stock market closed strongly. With anticipation ahead of the earnings announcement for artificial intelligence (AI) semiconductor leader Nvidia for the second quarter, the S&P 500 index set a new all-time high.
On this day, the Dow Jones Industrial Average, which focuses on blue-chip stocks, finished trading at 40,565.05, up 146.98 points (0.32%) from the previous day. The Standard & Poor's (S&P) 500 index, which focuses on large-cap stocks, closed at 6,481.37, up 15.43 points (0.24%). The Nasdaq index, which concentrates on technology stocks, rose by 45.87 points (0.21%) to close at 21,590.14.
The earnings report from Nvidia for the second quarter, released after regular trading hours, slightly exceeded expectations. Nvidia reported revenue of $46.74 billion (65 trillion 155.5 billion won) and earnings per share (EPS) of $1.05 (1,463 won) for the period from May to July. On this day, stocks traded in the New York market showed slight weaknesses in healthcare, industrial, and communication services, while all others closed stronger.
On this day, the won-dollar exchange rate opened at 1,393.5 won, down 2.8 won from the previous trading day. (The value of the won has risen.)