Nvidia Earnings, Jackson Hole Meeting Loom as Korea Stock Market Remains Volatile

Korea's stock market is expected to remain volatile this week as semiconductor shares take center stage. Brokerages predict a range of 6,400 to 7,500 for the Kospi, with some analysts suggesting that Nvidia's earnings due on August 27 could be a turning point for the market.

Nvidia's report will test the durability of the artificial intelligence investment cycle, and strong results could trigger a rebound. However, high international oil prices and elevated long-term US Treasury yields are seen as limiting factors for gains.

The Middle East conflict and instability in US Treasury yields remain key variables, with investors looking to the release of July personal consumption expenditures data on August 26 and Federal Reserve Chair Kevin Warsh's keynote speech at the Jackson Hole meeting on August 28 for clues on monetary policy. Lee Kyung-min, an analyst at Daishin Securities, said that if Nvidia raises guidance for the next quarter, defends gross margins, ramps up Blackwell production, and offers a shipment outlook for Rubin, it could signal a stock-market rebound.