Feb 26 β€’ 01:31 UTC πŸ‡°πŸ‡· Korea Hankyoreh (KR)

Samsung Electronics Surges 6%, KOSPI Surpasses 6200 Due to NVIDIA's Strong Performance

Samsung Electronics saw a significant rise of over 6%, pushing the KOSPI index above 6200, largely influenced by NVIDIA's impressive financial results.

On February 26, Samsung Electronics' stock price surged more than 6%, contributing to a midday KOSPI index that surpassed the 6200 mark. Earlier in the day, the KOSPI opened at 6121.03, an increase of 0.61% from the previous trading day, and continued to grow throughout the morning session as highlighted by stock market data from the Korea Exchange. By 9:45 AM, the KOSPI had crossed the 6200 threshold, mainly driven by the strong performance of Samsung Electronics, which had risen to 217,250 KRW at the same time.

The boost in Samsung's stock was significantly influenced by NVIDIA's recent announcement of its fourth-quarter financial results, which reported a staggering 73% increase in revenue year-on-year, totaling $68.13 billion. NVIDIA's earnings per share also rose from $1.30 in the previous quarter to $1.62, surpassing market expectations of $1.53. The positive news surrounding NVIDIA’s performance not only invigorated its own stock, which experienced a slight increase during after-hours trading, but also positively impacted semiconductor stocks overall, including those of Samsung and SK Hynix.

In addition to Samsung's rise, SK Hynix's stock climbed by approximately 3%, reaching 1,049,000 KRW. The upward momentum in both companies highlights the broader optimism surrounding the technology sector, especially following strong results from major players like NVIDIA. This wave of positive sentiment suggests continued growth in the semiconductor market, with potential implications for investment strategies in South Korea's technology-focused stock exchange.

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