As the Philadelphia Semiconductor Index in the United States surged ahead of Nvidia's earnings announcement, Samsung Electronics and SK Hynix also showed strong performances of around 3% in the Korean stock market on the morning of May 28.
As of 10:25 a.m. on this day, shares of Samsung Electronics were trading at 55,700 won per share, up 3.34% from the previous session. SK Hynix was also up 2.96%, trading at 208,500 won.
This is attributed to the strong performance of semiconductor stocks in the New York stock market overnight. Major semiconductor stocks such as Nvidia (3.21%), Broadcom (3.03%), AMD (3.85%), and TSMC (2.97%) all rose sharply, causing the Philadelphia Semiconductor Index to soar 3.38% compared to the previous session.
Amid an overall improvement in investor sentiment following news that U.S. President Donald Trump would defer tariffs on the European Union, expectations for Nvidia's earnings as a leading artificial intelligence (AI) stock and the potential for Stargate's full-scale launch are cited as factors driving related stocks higher. Nvidia is scheduled to announce its quarterly earnings in the early morning of May 29, Korea time.
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