Seoul shares snap 2-day rally amid escalating Nvidia risks

Korean stocks experienced a brief two-day rally before falling 0.6 percent on Thursday, as heightened risks associated with Nvidia weighed on the market. The Korea Composite Stock Price Index (KOSPI) closed 32.63 points, or 0.61 percent, lower at 5,342.73, after previously rising 4.39 percent on Tuesday and 2.6 percent on Wednesday.

Initially opening 0.2 percent higher, the index saw fluctuations throughout the day, reaching a peak of 5,458.84. Reports suggested that Nvidia's board was set to remove CEO Jensen Huang, amid allegations of multiple extramarital affairs. This news, coupled with Nvidia's significant business ties with Korean tech companies, likely impacted investor sentiment.

Trading volume was relatively light at 233.7 million shares valued at 20.6 trillion won ($15.5 billion), with more stocks losing value than gaining, resulting in a 595 to 268 ratio. Foreign investors bought stocks worth 370.4 billion won, while institutions sold stocks worth 690.3 billion won and individual investors offloaded 204.3 billion won worth of stocks.