Nvidia board weighs ousting Jensen Huang as KOSPI slips 0.61%
South Korean shares closed lower on Thursday as investors weighed a leadership question at the heart of the global AI trade: Nvidia's board met to decide whether to oust chief executive Jensen Huang, a source familiar with the matter said.
The benchmark KOSPI fell 32.63 points, or 0.61%, to 5,342.73. Chipmaker Samsung Electronics rose 0.97%, but peer SK Hynix lost 1.80%, battery maker LG Energy Solution slid 1.79% and Hyundai Motor dropped 2.20%. Kia fell 1.06%, POSCO Holdings shed 0.54% and Samsung BioLogics gained 1.33%. Decliners outnumbered advancers 595 to 271 among 911 traded issues, and foreigners were net buyers of shares worth 374.6 billion won.
The board's review comes as the world's dominant supplier of AI processors grapples with reports of two extramarital affairs involving its longtime leader. The KOSPI has still risen 26.78% so far this year.
The won was quoted at 1,333.9 per dollar on the onshore settlement platform, 0.27% stronger than its previous close of 1,337.5. Offshore it traded at 1,334.6, and the one-month non-deliverable forward was quoted at 1,333.0.
In money and debt markets, December futures on three-year treasury bonds lost 0.01 point to 103.50. The most liquid three-year yield was flat at 3.733%, while the benchmark 10-year yield fell 2.9 basis points to 3.923%.
