KOSPI Gives Up Gains on "Jensen Huang Ouster Rumors," Closes Slightly Lower

KOSPI near 5,300 ... KOSDAQ below 700

South Korean stocks closed lower on Nov. 12, as rumors spread that NVIDIA CEO Jensen Huang could be ousted. The market rose early in the session but gave up its gains and turned lower after a new scandal involving Huang broke.

On the Korea Exchange, the KOSPI closed at 5,342.73, down 0.61% from the previous session. It opened slightly higher and briefly topped 5,400 early in the session, but ultimately fell. Individual investors bought 61.7 billion won worth of KOSPI stocks, while foreign investors also turned to net buying, purchasing 167.6 billion won. Institutions sold 764.2 billion won worth of shares, driving the index lower.

The domestic stock market was displayed on a screen in the dealing room at Hana Bank's headquarters in Jung-gu, Seoul, on the 12th. The KOSPI opened higher at 5,385.94, up 10.58 points (0.20%) from the previous trading day, and has continued to fluctuate around the break-even level. November 12, 2026. Photo by Kim Hyunmin.

The declining sectors included IT services, down 3.11%; insurance, down 2.28%; chemicals, down 1.89%; real estate, down 1.48%; construction, down 1.36%; metals, down 1.33%; financials, down 1.23%; machinery and equipment, down 1.22%; and transportation equipment and parts, down 0.76%. Advancing sectors included entertainment and culture, up 2.20%; transportation and warehousing, up 1.88%; electricity and gas, up 1.01%; and pharmaceuticals, up 0.79%.

Among stocks with large market capitalizations, Samsung Electronics rose 0.97%, Samsung Biologics 1.33%, Samsung Life Insurance 1.01%, and Celltrion 1.21%. In contrast, SK hynix fell 1.80%, SK Square 0.63%, LG Energy Solution 1.79%, Samsung Electro-Mechanics 4.01%, Hyundai Motor 2.20%, and KB Financial Group 0.98%.

The KOSDAQ also fluctuated around the unchanged level during the session before closing at 696.53, down 1.22% from the previous trading day. Individual investors net bought 383.3 billion won worth of shares, as did institutions, with net purchases of 39.1 billion won. Foreign investors sold 425.8 billion won worth of shares.

Most of the KOSDAQ's largest stocks by market capitalization fell. Alteogen dropped 3.32%, EcoPro 1.50%, EcoPro BM 2.18%, Jusung Engineering 3.59%, Rainbow Robotics 0.72%, EO Technics 1.47%, Sam Chun Dang Pharm 2.15%, and HLB 1.67%. Simtech rose 1.89% and Leeno Industrial gained 0.96%, modest increases.

Lee Kyung-min, a researcher at Daishin Securities, said, "The KOSPI fell today as the market absorbed uncertainty stemming from the scandal involving NVIDIA CEO Jensen Huang." He added, "Despite improved investor sentiment toward AI semiconductor investments, the market showed signs of taking a breather after its short-term rebound. Net selling by institutions, particularly financial investment firms, was especially pronounced and widened the market's losses during the session."

This content was produced with the assistance of AI translation services.