Seoul shares open lower after Nvidia`s earnings release

SEOUL, Aug. 28 (Yonhap) -- South Korean stocks opened lower Thursday, as investors were processing the second-quarter earnings report from U.S. artificial intelligence (AI) chip giant Nvidia.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 10.14 points, or 0.32 percent, to 3,177.02 in the first 15 minutes of trading.
Overnight, Wall Street gained ground on expectations the U.S. Federal Reserve will lower rates and a positive outlook on Nvidia earnings results, which were later announced after the closing of the market.
The AI chip giant's earnings beat market expectations, but its slower-than-expected growth in the AI-chip sector drove its stock price down in after-hours trading.
In Seoul, most large-cap shares traded lower.
Market top cap Samsung Electronics moved down 0.57 percent, while its rival SK hynix retreated 0.38 percent.
Leading battery maker LG Energy Solution slid 0.54 percent, ship building company HD Hyundai Heavy Industries fell 4.03 percent, and nuclear power plant builder Doosan Enerbility inched down 0.48 percent.
In contrast, top car maker Hyundai Motor advanced 1.59 percent, while its sister company Kia rose 3.29 percent.
The local currency was trading at 1,391.5 won against the greenback, down 4.8 won from the previous session's close.

Sumber : yna.co.kr