Seoul, August 27, 2026 — Buoyed by robust earnings from global artificial intelligence powerhouse Nvidia, South Korea's benchmark KOSPI extended its rebound on Thursday, moving tantalizingly close to reclaiming the coveted 7,000-point threshold.
As of 9:15 a.m. KST, the KOSPI index traded at 6,955.87, surging 147.66 points, or 2.17%, from the previous session's close. Building on consecutive gains that solidified its footing in the 6,800 range, the index opened 2.76% higher and quickly surged past 6,996 points right after the opening bell, demonstrating strong upward momentum.
Wall Street’s Post-Closing Reversal and Nvidia’s Record Quarter
The domestic rally was catalyzed by an overnight shift in global sentiment following Nvidia’s blockbuster earnings release. U.S. markets had closed on a subdued note as investors digested the latest July Personal Consumption Expenditures (PCE) report, with the Dow Jones Industrial Average slipping 0.21%, and the S&P 500 and Nasdaq Composite edging down 0.02% and 0.08%, respectively.
However, the market mood shifted dramatically after the closing bell when Nvidia reported its financial results for the second quarter of fiscal 2027 (spanning May to July). The chipmaker posted a staggering revenue of $96.22 billion—representing a doubling year-over-year—marking the 13th consecutive quarter of record-breaking revenue. This performance propelled Nvidia’s stock up by over 4% in after-hours trading.
Furthermore, management commentary during the earnings conference call—led by CEO Jensen Huang—effectively dismantled persistent fears of a semiconductor "peak out." Nvidia projected that its fiscal 2028 revenue would surge by approximately 70% compared to the previous year. This optimistic outlook sent positive shockwaves across the entire semiconductor supply chain, pushing after-hours shares of Micron Technology and SK Hynix ADR up by over 3% and 4%, respectively.
Restoring Confidence in Memory and Domestic Market Dynamics
Han Ji-young, an analyst at Kiom Securities, noted, "Nvidia's stellar earnings have reinforced visibility regarding high-bandwidth memory (HBM) and DRAM demand while strengthening manufacturers' pricing power. Consequently, market sentiment toward semiconductors, which had faced heightened volatility recently, has entered a favorable recovery phase." She added, "The domestic market is seeing broad-based gains led by semiconductor heavyweights, with market warmth diffusing across other sectors."
Despite the aggressive institutional and foreign buying driving the index upward, trading activity reflected divergent positioning among market participants. In the main bourse, retail investors net-sold approximately 980 billion won, while foreign investors and domestic institutions stepped in as major net buyers, acquiring 459.3 billion won and 395.3 billion won worth of shares, respectively.
Meanwhile, the tech-heavy KOSDAQ index also traded in positive territory, rising 4.57 points (0.55%) to 831.44. Market watchers remain optimistic that sustained momentum from global tech leaders will provide a stable floor for Korean equities as they test historic highs.
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