SEOUL — South Korean shares ended Wednesday’s trading session nearly flat as investors exhibited caution ahead of the anticipated earnings announcement from U.S. tech giant Nvidia. The local stock market showed minimal gains while the Korean won fell against the U.S. dollar.
According to Yonhap News Agency, the market is in a state of mixed anticipation and caution surrounding Nvidia’s second-quarter earnings report. “The company’s performance and future outlook are expected to significantly impact the stock market,” Kim stated, suggesting that Nvidia’s results could influence global tech stock valuations. The Korea Composite Stock Price Index (KOSPI) slightly increased by 0.58 points, or 0.02 percent, to close at 2,689.83.
The trading volume for the day was moderate, with about 276.4 million shares worth 10.4 trillion won (approximately US$7.77 billion) changing hands. Despite a slight gain in the index, there were more losers than winners, with 625 stocks declining and 260 advancing. Institutional investors were net sellers, offloading 33.9 billion won worth of shares, while individual and foreign investors purchased shares worth a combined net of 30.7 billion won.
Tech stocks, including major players like Samsung Electronics and SK hynix, ended the day higher after fluctuating during the session. Samsung Electronics saw a 0.79 percent increase, closing at 76,400 won, while SK hynix rose 2.46 percent to 179,300 won. The biotech sector also showed positive movements, with Samsung Biologics and Celltrion registering gains.
Automotive stocks performed well, with Hyundai Motor climbing 4.65 percent to 259,000 won and Kia Motors rising 2.75 percent. However, energy shares did not fare as well, with SK Innovation and S-Oil experiencing declines.
The local currency weakened against the dollar, closing at 1,339 won, down from the previous session. Bond prices increased, leading to a decline in yields; the three-year Treasury yield fell 2.1 basis points to 2.919 percent, and the five-year bond yield dropped 1.8 basis points to 2.977 percent.