Nvidia Earnings Beat Ignites Semiconductors; Kospi Surges Toward 7,000 Level as SK Hynix and Kioxia Soar 6%

TradingKey - Nvidia Earnings Beat Ignites Semiconductor Sector! Japanese and South Korean Stock Markets Rally at Open, KOSPI Surges Nearly 2.7% Approaching 7,000, SK Hynix and Kioxia Jump 6%.

During the Asian session on August 27, major stock indices in Japan and South Korea both opened higher and moved upward in early trading, demonstrating an overall positive trend. Among them, the KOSPI Index rose 2.66% after the open, approaching 7,000 points to trade temporarily at 6,989.06 points. Both major heavyweight stocks advanced, with SK Hynix up 5.81% at 1,786,000 KRW and Samsung Electronics up 3.15% at 270,000 KRW.

KOSPI Index Chart, Source: TradingView

The Nikkei 225 Index opened near the 67,000 mark before retreating from earlier highs, gaining just 0.44% to trade temporarily at 66,550.43 points. Heavyweight stocks rose across the board, with Kioxia gaining 6.08% to break above the 50,000 mark and trade temporarily at 53,040 JPY, while SoftBank rose 1.51% to trade temporarily at 5,241 JPY.

Japanese and South Korean stocks opened broadly higher, driven primarily by the overnight better-than-expected performance of U.S. semiconductor giants, falling U.S. Treasury yields and oil prices easing inflation pressures, as well as a tracking rebound in tech heavyweights. Notably, after the U.S. market close, Nvidia (NVDA) released better-than-expected Q2 earnings, with revenue surging over 100% year-over-year. Robust AI chip demand once again shattered market concerns over an AI investment bubble, directly driving a rebound in Asian chip stocks and injecting a shot in the arm for Japanese and South Korean stock markets reliant on the semiconductor supply chain.