KOSPI wavers near flatline amid Nvidia uncertainty

By Kim Yeon-jae Posted : November 12, 2026, 09:48 Updated : November 12, 2026, 09:48
Graphics by AJP Song Ji-yoon
SEOUL, November 12 (AJP) — Asian markets opened somewhat subdued Thursday as uncertainty surrounding Nvidia's leadership tempered optimism generated by strong U.S. AI infrastructure earnings. 

The KOSPI opened 0.20 percent higher at 5,385.94 before retreating to 5,342.76, down 32.60 points, or 0.61 percent, in early trading. As of 9:40 a.m., it was trading 0.55 percent higher. 

The junior KOSDAQ fell 0.86 percent to 699.04, slipping back below 700 after surging 5.62 percent Wednesday.

Retail investors bought a net 101.6 billion won ($76 million) on the KOSPI in early trading, while foreign investors and institutions sold a net 19.9 billion won and 97.3 billion won, respectively, according to provisional market data.

The reversal followed conflicting signals from Wall Street, where strong earnings from AI cloud operator CoreWeave helped drive a technology rally before renewed controversy surrounding Nvidia Chief Executive Jensen Huang unsettled investors.

CoreWeave shares surged 24.7 percent Wednesday as its improved outlook eased concerns over AI infrastructure spending. Nvidia also gained 2.9 percent during regular trading but fell about 8 percent after hours following reports that its board was preparing to consider Huang's removal.

Korean technology shares showed mixed movements in early trading.

Samsung Electronics gained 1.21 percent to 208,500 won ($156.3) around 9:19 a.m., while NAVER dropped 4.17 percent to 186,200 won. LG Energy Solution slipped 1.19 percent to 331,500 won.

On the KOSDAQ, battery materials producer EcoPro declined 3.67 percent to 70,800 won, while biotechnology firm Alteogen edged up 0.38 percent to 184,200 won.

The pullback followed two consecutive sessions of gains that had lifted the KOSPI by more than 7 percent, supported by renewed demand for chipmakers and hopes of sustained AI investment.

Japan's Nikkei 225 edged up 0.20 percent to 61,369.26 around 9:26 a.m., while the Nikkei Semiconductor Stock Index gained 0.74 percent, pointing to a more resilient but uneven performance among Japanese technology shares.

Semiconductor equipment stocks diverged, with chip-testing equipment maker Advantest falling 3.44 percent to 30,360 yen ($190), while Tokyo Electron advanced 2.74 percent to 9,526 yen. Among electrical infrastructure-related stocks, Mitsubishi Electric rose 3.11 percent to 5,070 yen, while cable maker Fujikura lost 1.63 percent to 3,070 yen.

Elsewhere, Toyota Motor declined 0.76 percent to 3,409 yen, while Mitsubishi UFJ Financial Group was up 0.25 percent at 3,511 yen in earlier trading. The mixed moves suggested that Tokyo's modest index gain was not accompanied by uniform strength across major exporters, financial stocks and AI-related suppliers.

Investors were also weighing expectations of another Federal Reserve rate increase in December and potential volatility surrounding Thursday's monthly index options expiry, after stronger-than-expected U.S. inflation pushed bond yields higher earlier this week.

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