[Good Morning Stock Market] Watching Whether US Nvidia's Rise Will Boost Semiconductors

On the 12th, the domestic stock market is expected to focus on whether the rise of U.S. company Nvidia will reverse the momentum slowdown in the semiconductor sector.

On the previous day at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 40,861.71, up 124.75 points (0.31%) from the previous session. The S&P 500 index rose 58.61 points (1.07%) to 5,554.13, and the Nasdaq Composite surged 369.65 points (2.17%) to close at 17,395.53.

The New York stock market initially saw disappointing selling pressure due to rigid inflation slowdown movements, but after comments from Nvidia CEO Jensen Huang, it reversed and expanded its gains until the close.

At a tech conference hosted by Goldman Sachs, he stated, "Demand is so high that everyone wants to be our first," adding, "Demand for the next-generation product, Blackwell, is also strong." Following this, strong net buying flowed in, and the gains continued to increase until the market close.

The August Consumer Price Index (CPI) largely met market expectations, but the core CPI rose 0.3% month-over-month, slightly exceeding forecasts. This raised concerns that the disinflation trend might weaken, which dampened investor sentiment early in the session.

The Morgan Stanley Capital International (MSCI) Korea Index Exchange-Traded Fund (ETF) rose 0.6%, and the MSCI Emerging Markets Index ETF increased by 0.7%. Eurex KOSPI 200 futures closed up 1.0%.

Researcher Kim Seok-hwan of Mirae Asset Securities analyzed, "The domestic stock market had fallen for seven consecutive trading days until the previous day, even dipping below the 2,500 mark during the session. Also, Samsung Electronics recorded its lowest stock price in 16 months, reflecting the impact of a strike at its production plant in India."

He added, "Today, the domestic stock market should pay attention to whether Nvidia's rise will reverse the momentum slowdown in the semiconductor sector. Especially considering that September is the simultaneous expiration date for futures and options, a momentum strengthening in the semiconductor sector and a return of foreign net buying could lead to a strong upward trend."

Meanwhile, the New York Non-Deliverable Forward (NDF) 1-month won-dollar exchange rate stood at 1,337 won. Considering this, the won-dollar exchange rate is expected to start 6 won lower compared to the previous day.