The Seoul session
The Seoul stock exchange closed Monday's session in negative territory, according to The Korea Herald. The benchmark Kospi index ended trading at 5,018.85 points, down 40.84 points, or 0.81 percent, after a choppy session. Trading was subdued: 231.8 million shares worth 17.26 trillion won, about $12.8 billion. There were 527 decliners versus 340 advancers.
On flows, foreign and retail investors sold a combined net 1.18 trillion won worth of positions, while institutional investors bought a net 717.1 billion won worth of stocks. The local currency strengthened instead: the won was quoted at 1,347.1 per dollar at 15:30, up 9.5 won from the previous session's close.
The Nvidia case weighs
At the root of the uncertainty, the Korean outlet writes, are doubts running through the AI sector, fueled in particular by the internal investigation announced by Nvidia. The US chipmaker said Sunday in a statement that it had launched an internal inquiry into its CEO Jensen Huang over an alleged relationship with a person suspected of being a Chinese spy.
According to the material, in a message to employees Huang admitted he had been unfaithful to his wife and took full responsibility for his actions. The announcement, the source reports, rekindled market tensions after concerns about the future of AI data centers had eased following the Democrats' clear victory in the US midterm elections. Lee Kyoung-min, an analyst at Daishin Securities, said investors were looking for direction as the hunt for cheap bargains in semiconductors continued.
Stocks and bonds
On the Seoul market, large-cap stocks mostly closed lower, with the exception of semiconductors. Samsung Electronics gained 0.64 percent to 189,900 won and SK hynix 0.35 percent to 1,136,000 won. In decline, by contrast, were battery maker LG Energy Solution, which lost 5.78 percent to 318,000 won, automaker Hyundai Motor, down 2.86 percent to 271,500 won, and defense group Hanwha Aerospace, down 3.18 percent to 639,000 won.
On the bond market, prices fell, with yields rising: the three-year added 2.6 basis points to 3.639 percent and the benchmark five-year 1.4 basis points to 3.731 percent.
To be verified
The picture outlined by the source remains partial on some points. It does not indicate the outcome of the internal investigation announced by Nvidia or any possible operational consequences. The material also notes, in a callout headline, the possible risk of stricter export requirements for Samsung and SK hynix if US authorities step up controls on AI chip supplies destined for China, but does not elaborate on the issue. The actual scope of this risk therefore remains to be ascertained.
