Why did the KOSPI turn lower on Thursday despite Wall Street’s overnight rally?

Nvidia fell sharply after the bell following reports that its board was preparing to oust Jensen Huang and that Huang had relationships that drew scrutiny. The article also noted that Wall Street’s gains came amid a tech rally and strong CoreWeave earnings, which eased concerns about AI investment profitability.

How did major Korean semiconductor and internet stocks perform as Nvidia faced controversy?

Trading was mixed among semiconductor companies: Samsung Electronics gained 0.73 percent, while SK hynix and Hanmi Semiconductor fell 0.55 percent and 2.39 percent, respectively. Naver, in which Nvidia is the third-largest shareholder, dropped 3.4 percent, and Kakao declined 0.31 percent.

What were the KOSPI level and won-dollar exchange rate at 9:15 a.m. Thursday?

At 9:15 a.m., the KOSPI stood at 5,364.04, down 11.32 points or 0.21 percent. The won was quoted at 1,332.9 per U.S. dollar, up 3.3 won from the previous session’s close.

Seoul shares turn lower amid Nvidia controversies despite Wall Street rally

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Summary

The KOSPI fell 11.32 points, or 0.21 percent, to 5,364.04 in Seoul Thursday morning as of 9:15 a.m., despite gains on Wall Street overnight. Nvidia shares dropped after reports about CEO Jensen Huang, while Korean semiconductor stocks were mixed. Samsung Electronics rose, but SK hynix and Hanmi Semiconductor declined. The won strengthened to 1,332.9 against the U.S. dollar.

Key Facts

The Dow Jones Industrial Average rose 0.49 percent, the S&P 500 gained 1.31 percent and the Nasdaq Composite advanced 1.6 percent overnight.
CoreWeave earnings eased investor concerns about the profitability of massive AI investment.
Samsung Electronics added 0.73 percent, while SK hynix fell 0.55 percent and Hanmi Semiconductor decreased 2.39 percent.
Naver sank 3.4 percent, Kakao lost 0.31 percent, Hyundai Motor dropped 1.1 percent and Kia declined 1.06 percent.
The won was up 3.3 won from the previous trading session’s close.

By Yonhap

Published Nov 12, 2026 9:23 am KST
Updated Nov 12, 2026 9:36 am KST

Financial data is shown on a screen at the dealing room of Hana Bank in Seoul, Thursday. Yonhap

Korean shares turned lower Thursday despite overnight gains on Wall Street driven by a tech rally amid escalating controversies over Nvidia CEO Jensen Huang.

After opening 0.2 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) turned negative, losing 11.32 points, or 0.21 percent, to 5,364.04 as of 9:15 a.m.

Overnight on Wall Street, three major stock indexes finished higher. The Dow Jones Industrial Average rose 0.49 percent, the S&P 500 gained 1.31 percent, and the Nasdaq Composite advanced 1.6 percent.

Strong earnings reports from neocloud firm CoreWeave eased investor concerns over the profitability of massive AI investment.

However, Nvidia fell sharply after the bell as the Wall Street Journal reported that the company's board is preparing to oust Huang.

Later, a New York Times report said that Huang had an extramarital affair with a company executive who reported to him, while the Nvidia CEO admitted that he had a relationship with a suspected Chinese spy.

In Seoul, semiconductor shares were mixed.

Tech giant Samsung Electronics added 0.73 percent, while chipmaker SK hynix fell 0.55 percent, and Hanmi Semiconductor, a leading chip equipment maker, decreased 2.39 percent.

Internet giant Naver, where Nvidia is the third-largest shareholder, sank 3.4 percent, and its rival Kakao lost 0.31 percent.

Top carmaker Hyundai Motor dropped 1.1 percent, and its sister Kia declined 1.06 percent.

The Korean won was quoted at 1,332.9 won against the U.S. dollar as of 9:15 a.m., up 3.3 won from the previous trading session's close.

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