Nvidia CEO’s expected visit to Korea sends LG Group shares soaring, LG Electronics 29.93% higher
29LG Group shares surged across the board during the session. LG Electronics closed at an all-time high, up 29.93% at 293,000, while LG CNS hit the upper price limit.
29LG Group shares rose across the board during the session at the Korea Exchange. LG Electronics closed up 29.93% at 293,000. The stock closed at an all-time high.
LG CNS closed at the upper price limit. LG Innotek rose 28.31%. Other major affiliates also gained.
LG rose 26.51%. LG Electronics preferred shares gained 21.91%. The exchange-traded fund “TIGER LG Group Plus,” which holds shares in LG affiliates, rose 22.1%.
The latest surge began after reports emerged that Jensen Huang, Nvidia’s CEO, who is scheduled to visit South Korea next week, may meet with Koo Kwang-mo, chairman of LG Group. The possibility of a meeting reportedly fueled expectations for cooperation in physical AI and robotics. The market said the news triggered trading in related stocks.
According to Korea Exchange figures, the changes in related stocks and the returns of exchange-traded funds were confirmed at the close of trading that day. Whether further announcements will be made about the schedule for a future meeting and the scope of cooperation is being watched.
Sources: 파이낸셜뉴스 증권
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