Seoul bucks the Wall Street trend
The Seoul stock exchange began Friday's session sharply higher, according to The Korea Herald, despite the negative close in U.S. markets the previous night. The Kospi opened up 2.05% and by 9:15 had gained 150.08 points, equal to 2.81%, reaching 5,492.81.
Overseas, by contrast, the main indices closed in negative territory due to losses in the technology sector: the Dow Jones Industrial Average fell 0.36%, the S&P 500 0.35%, and the Nasdaq Composite 0.39%. The PHLX Semiconductor Index slipped 0.54%. The material does not indicate the specific causes of these declines beyond a generic reference to tech stocks.
The Korean move therefore appears to run counter both to the U.S. session the previous day and to the news that marked the day, namely the removal of Nvidia founder and CEO Jensen Huang.
Huang's removal and the uncertainties over AI
According to the source's account, Nvidia's board removed Huang from the CEO position after reports concerning multiple personal relationships, including one with a person suspected of being a Chinese spy. The company named Chief Financial Officer Colette Kress as interim CEO.
Huang was closely associated with the ongoing artificial intelligence expansion cycle. His exit, the source writes, raises questions among investors about the future of the global AI ecosystem, in which the Nvidia founder played a crucial role. This is an assessment reported, not an established fact: the material does not quantify the impact or provide elements on how the company intends to manage the transition beyond the interim appointment.
The material does not specify the date of the board's decision or whether Huang has made any statements. It also does not provide details on any investigations underway: the mention of the suspected Chinese spy remains an element reported by the source and not independently verifiable on the basis of the available text.
The leading stocks on the Korean exchange
In Seoul, the Kospi heavyweights all opened in positive territory. Samsung Electronics, a benchmark for the index, gained 3.37%, while chipmaker SK hynix jumped 4.63%. Automaker Hyundai Motor rose 2.63% and battery maker LG Energy Solution 0.46%. KB Financial Group advanced 1.84% and defense group Hanwha Aerospace 1.07%.
On the currency market, the Korean won was quoted at 1,336.5 per dollar at 9:15, slightly weaker by 0.7 won compared with the previous session's close.
The picture that emerges is one of a positive start to the day for the main Korean stocks, particularly semiconductor makers, which are the most directly exposed to the dynamics of the global AI sector. The material, however, does not explain the specific reason for Seoul's rise or establish a causal link with the Nvidia affair: the simultaneity of the two events is documented; the relationship is not.
