Nvidia CEO resignation triggers volatile moves in South Korean chip stocks
Nvidia announced the resignation of CEO Jensen Huang amid personal scandal, prompting a sell‑off of Nvidia shares and a mixed reaction in South Korea. The KOSPI fell 0.61% to 5,342.73 on November 12, while Samsung Electronics and SK hynix rose over 1% in pre‑market trading the next day. By the close on November 13, Samsung slipped 0.96% to 206,000 won and SK hynix dropped 3.03%, as the market digested the leadership change.
Why it matters
The leadership turmoil at Nvidia, a key partner for Korean chipmakers, created short‑term volatility in the Korean market, affecting investors’ exposure to Samsung and SK hynix. The event also pushed Nvidia shares down more than 4% to $166.19, reducing its market cap below $4 trillion.
Key facts
- 1The KOSPI closed at 5,342.73, down 0.61%, on November 12. koreaherald.com
- 2Samsung Electronics traded at 212,000 won, up 1.92%, in pre‑market trading on November 13. en.sedaily.com
- 3SK hynix traded at 1.273 million won, up 1.52%, in pre‑market trading on November 13. en.sedaily.com
- 4Nvidia shares fell 4.34% to $166.19, taking its market capitalization below $4 trillion. en.sedaily.com
- 5Samsung Electronics closed at 206,000 won, down 0.96%, on November 13. finance.yahoo.com
- 6SK hynix closed down 3.03% on November 13. finance.yahoo.com
Summary written by AlphAI AI Desk from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.