Asian markets rally; Kospi jumps 2.1% as Huang quits, Kress named CEO
- Asian markets traded higher on Friday, led by South Korea's Kospi.
- Jensen Huang stepped down as Nvidia CEO following personal relationship allegations.
- CFO Colette Kress has been appointed as interim CEO of Nvidia.
- Analysts warn that Nvidia shares could face a 20% correction.
- US markets are on track for their strongest weekly performance since August.
Asian markets mostly traded higher on Friday as investors reacted to the leadership change at Nvidia. The MSCI Asia Pacific Index increased by 0.3%, with the performance driven primarily by gains in South Korea.
South Korea's Kospi index led regional gains with a 2.14% increase. Japan's Nikkei 225 gained 1.32% and the broader Topix index advanced 0.55%.
Investors monitored how the Nvidia leadership shift affects the broader artificial intelligence sector while oil prices and Treasury yields maintained their gains.
Jensen Huang resigns as Nvidia CEO amid allegations
Jensen Huang stepped down as Nvidia CEO on Thursday following allegations regarding his personal relationships. These allegations include reported links to a woman suspected by United States intelligence of being a Chinese spy.
Nvidia appointed CFO Colette Kress as interim CEO. Kress has been with the company for over a decade.
The Nvidia board is currently considering both internal and external candidates to serve as a permanent successor. Analysts cited by CNBC have warned that the departure of Jensen Huang could trigger a correction of up to 20% in Nvidia share prices.
Nvidia stock trades at $166.19 amid investor uncertainty
As of 7:32 am IST on 13 November 2026, Nvidia stock traded at $166.19, a decrease of $2.70 or 1.60% from the previous close of $168.89. This price reflects a decrease of $2.70, or 1.60%, from the previous close of $168.89.
The stock recorded a trading range between a low of $148.80 and a high of $167.14, with a total volume of 740,019,481 shares.
Bret Kenwell at eToro said Nvidia’s earnings will be under a brighter spotlight next week.
US markets track for weekly gains despite Thursday dip
Despite the Thursday dip, the major indices remain on track for weekly gains.
Oil prices steady as traders await PPI data
US oil traded near $88.70 per barrel following President Donald Trump’s statement that the United States could abandon a deal with Iran. Treasury yields stayed close to Thursday’s peaks as traders prepared for faster Federal Reserve rate hikes, and the dollar moved slightly higher.
Gold stabilized after three consecutive declines, and Bitcoin traded around $71,300.
Market volatility follows Nvidia leadership transition
Stocks jumped on 9 November as oil prices tumbled and Nvidia shares fell amid an internal probe. Major indices rebounded that same day as oil prices plunged amid Nvidia headwinds.
Microsoft surpassed Nvidia's market cap on 10 November for the first time since June 2025. The Nasdaq Stock Market is an electronic exchange based in Manhattan, New York City, and is the largest exchange by market capitalization.
Stocks rose on 11 November on broader tech gains, even as Nvidia shares fell after hours. Jensen Huang stepped down as CEO on 12 November, causing Nvidia shares to tumble 12% in pre-market trading, according to The Times of India.
The global stock market fell on 12 November reflecting the aftermath of the leadership change. Global AI stocks sank that same day as the exit of the CEO deepened sector concerns.
London South East reported that European stocks hit a record high on 12 November after the Nvidia storm rattled Asian markets. Trading conditions on 12 November required investors to weather the volatility. AI stocks were paring losses on 12 November as investors assessed the fallout of the exit.
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