South Korean stocks gain after Nvidia hits record high overnight

Kakao

07/01/2025 02:49

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      KOSPI rises, foreigners net buyers
    

        * 
      Korean won strengthens against US dollar
    

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      South Korea benchmark bond yield falls
    

  
       SEOUL, Jan 7 (Reuters) - Round-up of South Korean
financial markets:
    
    ** South Korean shares rose on Tuesday, helped by gains in
chip and IT shares after Nvidia hit a record high ahead of a
speech by chief executive Jensen Huang.
    ** The blue-chip KOSPI  .KS11  added 25.54 points, or 1.03%,
at 2,514.36 as of 02:15 GMT. The won strengthened, while the
benchmark bond yield fell.
    ** Many of South Korea's chipmakers are involved in the
supply of high bandwith memory (HBM) chips for Nvidia's AI
processors.
    ** Among index heavyweights, chipmaker Samsung Electronics
 005930.KS  rose 0.89%. Battery maker LG Energy Solution
 373220.KS  climbed 2.07%.
    ** Hyundai  005380.KS  added 0.24%, while sister automaker
Kia  000270.KS  lost 0.60%. Search engine Naver  035420.KS  and
instant messenger Kakao  035720.KS  advanced 0.48% and 0.26%,
respectively.
    ** On Wall Street, the S&P 500 and the Nasdaq Composite hit
more than one-week highs overnight. Nvidia  NVDA.O  surged
3.43%.
    ** Nvidia's Chief Executive Jensen Huang will deliver the
opening keynote speech at CES later on Monday and likely unveil
new videogame chips and detail efforts to parlay the company's
success in artificial intelligence (AI) into other markets
outside of the data center.
    ** Of the total 941 traded issues, 550 advanced and 305
declined.
    ** Foreigners net bought shares worth 107 billion won 
($73.6 million) on the main board on Tuesday.
    ** The won was quoted at 1,453.1 per U.S. dollar on the
onshore settlement platform  KRW=KFTC , 0.47% higher than
Monday's close of 1,460.0.
    ** The KOSPI has risen 4.79% so far this year, gaining 0.3%
in the last 30 sessions.
    ** The won has gained 1.3% against the dollar year-to-date.
    ** In money and debt markets, March futures on three-year
treasury bonds  KTBc1  rose 0.09 point to 106.87.
    ** The most liquid three-year Korean treasury bond yield
 KR3YT=RR  rose by 2.2 basis points to 2.511%, while the
benchmark 10-year yield  KR10YT=RR  fell by 2.3 basis points to
2.805%.

($1 = 1,454.0000 won)

 (Reporting by Cynthia Kim; Editing by Sumana Nandy)
 ((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters
Messaging: cynthia.kim.thomsonreuters.com@reuters.net))