On the 26th, the KOSPI index opened higher after Nvidia released results overnight that beat market expectations. The KOSPI easily topped 6,100 at the open and is now eyeing 6,200.
As of 9:08 a.m., the KOSPI index was at 6,160.47, up 76.61 points (1.26%) from the previous trading day. Individuals drove the gain by turning net buyers of 436.8 billion won. Foreigners and institutions were net sellers of 288.9 billion won and 155.9 billion won, respectively.
Tech stocks caught a tailwind. Samsung Electronics rose more than 3%, and SK hynix was up 1%. Samsung Electronics preferred (2.28%), SK Square (2.16%), LG Electronics (8.93%), and HANMI Semiconductor (9.56%) were also surging.
Overnight, New York stocks closed higher across the board ahead of Nvidia's earnings release. On the New York Stock Exchange (NYSE), the Dow Jones Industrial Average rose 307.65 points (0.63%) to 49,482.15, the Standard & Poor's (S&P) 500 added 56.06 points (0.81%) to 6,946.13, and the Nasdaq Composite jumped 288.40 points (1.26%) to 23,152.08.
After the close, Nvidia said last year's fourth-quarter revenue was $68.13 billion, far above the estimate of $66.2 billion. Earnings per share (EPS) also beat at $1.62, versus the $1.53 estimate. As a result, first-quarter revenue guidance is expected to hit a record high of $78 billion on a quarterly basis. The release reaffirmed that the artificial intelligence (AI) industry's expansion cycle is continuing, and Nvidia shares rose more than 2% in after-hours trading.
At the same time, the KOSDAQ index was 1,172.95, up 7.7 points (0.66%) from the previous trading day. In the KOSDAQ market, individuals also turned net buyers of 99.5 billion won, driving the index higher. Foreigners and institutions were net sellers of 51.1 billion won and 33.8 billion won, respectively.