Seoul: South Korean stocks got off to a strong start Thursday following a two-day decline, as big-cap tech shares gathered ground following Nvidia's announcement of a record quarterly result. The benchmark Korea Composite Stock Price Index (KOSPI) rose 101.48 points, or 2.58 percent, to 4,030.99 in the first 15 minutes of trading.
According to Yonhap News Agency, investor sentiment improved after Nvidia reported better-than-expected quarterly revenue, raising hopes that the artificial intelligence (AI)-driven market rally could regain momentum amid bubble concerns. The U.S. stock market had finished higher just ahead of Nvidia's announcement. The Dow Jones Industrial Average edged up 0.1 percent, while the tech-heavy Nasdaq Composite rose 0.59 percent.
In Seoul, most top-cap shares opened higher, with major chip and other tech shares leading the upturn. Market bellwether Samsung Electronics jumped 4.04 percent, and chip giant SK hynix surged 5.34 percent. Leading battery maker LG Energy Solution advanced 1.37 percent, and nuclear power plant builder Doosan Enerbility soared 4.97 percent.
Top automaker Hyundai Motor added 0.38 percent, and its sister affiliate Kia climbed 0.79 percent. Leading shipbuilder HD Hyundai Heavy went up 1.74 percent, and its rival Hanwha Ocean increased 1.71 percent. Leading financial group KB Financial grew 0.57 percent, while internet portal operator Naver spiked 4.23 percent. Top steelmaker POSCO rose 2.23 percent.
The local currency was trading at 1,466.0 won against the greenback at 9:15 a.m., down 0.4 won from the previous session.