[Edaily Reporter Park Jung-Soo ] The KOSPI is surging by more than 6%. This is due to improved investor sentiment, particularly among semiconductor stocks, following last night’s announcement by U.S. memory semiconductor company Micron Technology that its earnings exceeded market expectations.
According to MP Doctor on the 25th, as of 2:25 p.m., the KOSPI is trading at 9,003.97, up 6.29% (532.95 points) from the previous trading day.
On the 24th (local time), after the market closed, Micron announced that for the third quarter of its fiscal year (March–May), revenue was $41.46 billion and adjusted earnings per share (EPS) was $25.11. These figures far exceeded market expectations compiled by LSEG CORPORATION (revenue of $35.84 billion and adjusted EPS of $20.78).
Revenue more than quadrupled compared to the $9.3 billion recorded in the same period last year, marking the company’s highest quarterly revenue on record. Net income for the same period reached $28.24 billion, an increase of nearly 15 times compared to the same period last year. The company stated that it expects fourth-quarter revenue to reach approximately $50 billion. According to LSEG, analysts had forecast revenue of $43.58 billion.
Memory prices have skyrocketed over the past few years as AI chips have absorbed most of the production capacity of memory suppliers. Prices for memory used in smartphones, laptops, and other electronic devices are also rising. Sanjay Mehrotra, Micron’s CEO, said during a conference call, “Customers recognize that it will take a significant amount of time for the shortage of memory and storage devices to improve,” adding, “We expect industry supply to gradually improve in 2028.”
Han Ji-young, an analyst at KIWOOM Securities, noted, “It is positive that Micron, which announced its earnings after the market closed, posted an earnings surprise,” adding, “This is a factor that is helping to improve investor sentiment in major stock markets, such as South Korea, which experienced a historic plunge earlier this week.”
On the KOSPI market, retail investors and foreign investors are selling 1.7011 trillion won and 1.2464 trillion won worth of stocks, respectively, while institutions are showing a net buying position of 2.9521 trillion won. Program trading shows a net purchase of 867.5 billion won, combining arbitrage and non-arbitrage trades.
By sector, the electrical and electronics sector is up more than 8%, while retail and manufacturing are showing gains in the 6% range. Electricity and gas, finance, and insurance are up more than 4%, and securities are rising in the 3% range. In contrast, paper and wood are down in the 3% range, and entertainment and culture, machinery and equipment, metals, and chemicals are showing declines in the 1% range.
Among the top market-cap stocks, gains are predominant, with SK(034730)surging by over 21%. SK hynix(000660)is jumping by more than 13%, and SamsungElectronics(005930)is rising by around 5%, with each regaining a market capitalization of 2,000 trillion won. Additionally, SAMSUNG C&T CORPORATION(028260)is up by around 9%, and SKSQUARE(402340)is rising by more than 7%. On the other hand, LG Energy Solution(373220)is down by around 3%, and DOOSAN ENERBILITY(034020) and HANWHA AEROSPACE(012450) are falling by more than 2%.
The KOSDAQ market is currently trading at 886.01, down 2.56% (23.305 points) from the previous trading day. Among the top market-cap stocks, declines are predominant, with JUSUNG ENGINEERING Co.,Ltd.(036930)down in the 8% range, and ECOPRO CO., LTD(086520) and ECOPRO BM CO., LTD.(247540)each falling by more than 5%.