Stocks in Seoul and Tokyo were mostly higher early Thursday, as chip shares largely shrugged off a slide in Nvidia’s shares in U.S. after-hours trading that followed reports about Chief Executive Jensen Huang. As of 9:58 a.m. local time, Samsung Electronics and Tokyo Electron were each up 2.4%, while SK Hynix was little changed, according to publicly reported prices. SoftBank Group rose 2.3%.
Some shares tied to Nvidia fell. South Korean internet company Naver was down 4%; Yonhap News Agency noted that Nvidia is Naver’s third-largest shareholder. Advantest, a Japanese maker of chip-testing equipment, fell 2.3%.
South Korea’s KOSPI was up 0.5% after slipping below Wednesday’s close soon after the open, while the tech-heavy KOSDAQ was down 0.7%. Japan’s Nikkei 225 was up 0.4%.
Nvidia fell 8.6% to $158.78 in after-hours trading on Wednesday after The Wall Street Journal reported that its board was preparing to oust Huang. Nasdaq-100 futures were down about 1% in evening trading in New York.
Japanese chip stocks had rallied on Wednesday after U.S. cloud computing company CoreWeave reported stronger-than-expected results, while Seoul’s rally was led by Samsung Electronics and SK Hynix. The KOSPI rose 2.6% to 5,375.36, and the Nikkei 225 rose 1.3% to 61,248.59.
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