Korean Market Surges at Open as Strong Chipmaker Earnings Ease AI Bubble Fears

Deep News08:21

South Korea's benchmark stock index opened sharply higher on Thursday, propelled by robust earnings from NVIDIA that surpassed market expectations and helped dispel concerns over softening semiconductor demand.

The Korea Composite Stock Price Index (KOSPI) jumped 187.91 points, or 2.76%, to open at 6,996.12. This positive momentum followed a mixed session on Wall Street overnight, where the S&P 500 slipped 0.02% and the tech-heavy Nasdaq dipped 0.08%.

The market's upbeat tone was largely driven by NVIDIA's second-quarter results released after the closing bell, which alleviated worries about a potential bubble in artificial intelligence (AI) stocks. The chipmaker's sales doubled compared with the same period last year, exceeding Wall Street's projections.

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