South Korea's benchmark KOSPI index jumped nearly 3% in morning trading on Friday, 13 November 2026, as heavyweight chipmakers Samsung Electronics and SK Hynix led a sharp rebound, shrugging off the shock resignation of Nvidia chief executive Jensen Huang.

The KOSPI added 150.08 points, or 2.81%, to 5,492.81 as of 9:15 a.m. local time, according to Yonhap News Agency. The index had opened 2.05% higher at 5,452.41 and briefly touched the 5,500 level during the morning session, erasing the previous day's losses in a single session.

Chip giants lead the advance

Market bellwether Samsung Electronics gained 3.37%, while chipmaker SK Hynix jumped 4.63% in early trading. Later morning reports put Samsung up 3.73% at 215,750 won and SK Hynix up 4.70% at 1.313 million won, with buying spreading across semiconductor-related shares.

The rally was broad-based. Top carmaker Hyundai Motor climbed 2.63%, battery maker LG Energy Solution advanced 0.46%, KB Financial Group rose 1.84% and defence group Hanwha Aerospace increased 1.07%. The junior KOSDAQ index also gained, rising 2.34% to 713.24, reclaiming the 700 level.

Foreign investors were net buyers, purchasing 199.7 billion won of shares on the main bourse, while retail investors sold a net 289.6 billion won, Aju Press reported. Advancing stocks outnumbered decliners by roughly three to one, with 623 shares rising against 216 falling.

Nvidia shock fails to dent Seoul

The surge came despite overnight losses on Wall Street, where all three major US indexes finished lower after Nvidia's board ousted Huang following reports of multiple affairs, including one with a suspected Chinese spy. The Dow Jones Industrial Average fell 0.36%, the S&P 500 lost 0.35% and the Nasdaq Composite declined 0.39%, while the PHLX semiconductor index retreated 0.54%.

Nvidia named chief financial officer Colette Kress as interim chief executive while it searches for a permanent replacement. Huang's departure has raised questions among investors about the future of the global artificial intelligence ecosystem, in which the Nvidia founder played a central role.

But Seoul traders took a different view. Shares in Nvidia's rivals, including Advanced Micro Devices and Broadcom, rose sharply overnight, suggesting the market expects demand for AI infrastructure to continue even after Huang's departure. That optimism flowed directly into Samsung and SK Hynix, both key suppliers to the AI chip supply chain.

Weekly surge caps strong run

The KOSPI was on course for a weekly gain of around 8%, according to Reuters, capping a remarkable run for South Korean equities despite the turmoil at the world's most valuable chipmaker. The index had closed at 5,342.73 the previous day, down 0.61%, before Friday's rebound.

The Korean won was quoted at 1,336.5 won against the US dollar in morning trading, little changed from the previous session's close.

Investors will now watch whether the rally holds into the close and how US markets respond when Wall Street reopens, with American producer price data due later on Friday.

This article is for information only and is not investment advice.

Sources: Yonhap News Agency (via K-VIBE) and Aju Press