South Korea stocks edge higher as chip makers gain after Nvidia earnings

SEOUL: Round-up of South Korean financial markets:

South Korean shares flat as market awaits Nvidia earnings

• South Korean shares rose on Thursday on upbeat trade data and gains in local chip stocks after Nvidia’s strong but weaker-than-expected revenue forecast.

• The won strengthened, while the benchmark bond yield fell.

• The benchmark KOSPI was up 3.60 points, or 0.15%, at 2,485.89 as of 00:55 GMT.

• Among index heavyweights, chipmaker Samsung Electronics rose 0.18% and peer SK Hynix gained 1.06%, while battery maker LG Energy Solution slid 0.50%.

• Hyundai Motor was flat and sister automaker Kia Corp was flat, while search engine Naver and instant messenger Kakao were down 0.93% and unchanged, respectively.

• Nvidia forecast its slowest revenue growth in seven quarters on Wednesday, failing to meet lofty expectations of some investors who have made it the world’s most valuable firm.

• Of the total 935 traded issues, 377 shares advanced, while 474 declined.

• South Korea’s exports for the first 20 days of November rose 5.8% from a year earlier, customs agency data showed.

• Foreigners were net sellers of shares worth 50.8 billion won ($36.35 million).

• The won was quoted at 1,397.8 per dollar on the onshore settlement platform, 0.22% higher than its previous close at 1,400.9.

• In offshore trading, the won was quoted at 1,397.4 per dollar, up 0.0% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,395.4.

• The KOSPI has fallen 6.38% so far this year, and lost 4.3% in the previous 30 trading sessions.

• In money and debt markets, December futures on three-year treasury bonds rose 0.05 point to 106.07.

• The most liquid three-year Korean treasury bond yield fell by 2.1 basis points to 2.852%, while the benchmark 10-year yield fell by 2.1 bps to 3.007%.