Seoul shares end tad higher ahead of Nvidia earnings; won up for 3rd day

South Korean stocks rose for the second straight day Tuesday following a sharp gain the previous session ahead of the release of AI giant Nvidia's third-quarter earnings. The local currency rose for the third consecutive day against the US dollar.

The benchmark Korea Composite Stock Price Index climbed 2.88 points, or 0.12 percent, to close at 2,471.95.

The main index soared 2.16 percent Monday, marking the largest gain since Sept. 26.

Trade volume was moderate at 401.2 million shares worth 8.9 trillion won ($6.4 billion), with gainers outpacing losers 458 to 409.

Foreigners and individuals offloaded a net 331 billion won and 168.1 billion won, respectively, while institutions scooped up a net 457.7 billion won. Foreign investors remained net sellers for the eighth consecutive session.

Overnight on Wall Street, the tech-heavy Nasdaq Composite increased 0.6 percent as investors awaited Nvidia's third-quarter results due later this week.

In Seoul, most shares closed in mixed territory.

Market bellwether Samsung Electronics fell 0.71 percent to 56,300 won following a 5.98 percent jump the previous day after dipping to the lowest point in over four years. On Friday, the tech giant announced a 10 trillion-won share buyback plan.

Chip giant SK hynix retreated 0.64 percent to 170,600 won, but Hanmi Semiconductor, a leading chip equipment provider, gained 0.25 percent to 80,800 won.

Top carmaker Hyundai Motor fell 0.69 percent to 215,500 won, and its auto parts affiliate Hyundai Mobis skidded 3.09 percent to 250,500 won.

Energy stocks rallied, with leading oil refinery SK Innovation surging 10.3 percent to 112,400 won and the state-run Korea Gas Corp. vaulting 9.26 percent to 46,000 won.

Major shipbuilder HD Korea Shipbuilding & Offshore Engineering rose 2.47 percent to 199,200 won, and food giant CJ Cheiljedang jumped 5.05 percent to 270,500 won.

The local currency was trading at 1,390.9 won against the greenback at 3:30 p.m., up 4.3 won from the previous session, extending its rise to the third day. (Yonhap)