[Edaily Reporter Park Jung-Soo ] The KOSPI surged by more than 5%. The market saw an upward trend, led by semiconductor stocks, after U.S. memory chipmaker Micron Technology reported earnings that exceeded market expectations.
According to MP Doctor on the 25th, the KOSPI closed at 8,930.30, up 5.42% (459.28 points) from the previous trading day. A buy-side circuit breaker was triggered early in the session, and the index surged more than 6% during the session, briefly regaining the 9,040 level.
On the 24th (local time), after the market closed, Micron announced that for its third fiscal quarter (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, CEO of Micron, said during a conference call, “Customers recognize that it will take a considerable 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, including South Korea, which experienced a historic plunge earlier this week.”
On the KOSPI market, retail investors and foreign investors sold 2.4881 trillion won and 822.2 billion won worth of stocks, respectively, while institutional investors showed a net buying position of 3.3413 trillion won. Program trading recorded a net purchase of 1.4503 trillion won, combining arbitrage and non-arbitrage trades.
By sector, the electrical and electronics sector rose more than 7%, and the manufacturing sector climbed in the 6% range. The retail and electricity & gas sectors jumped more than 4%, while the financial and securities sectors rose in the 3% range. In contrast, the paper and wood sector fell in the 3% range, and the entertainment & culture, machinery & equipment, and metals sectors dropped in the 2% range.
Among the top market-cap stocks, gains were predominant, with SK(034730)surging by over 20%. SK hynix(000660)jumped by more than 13%, and SamsungElectronics(005930)rose by around 5%, each regaining a market capitalization of 2,000 trillion won. Additionally, SAMSUNG C&T CORPORATION(028260)rose by around 7%, and SKSQUARE(402340)rose by more than 5%. Conversely, LG Energy Solution(373220) and DOOSAN ENERBILITY(034020)fell by around 3%, while HANWHA AEROSPACE(012450) and others dropped by more than 2%.
On that day, KOSPI trading volume totaled 449.32 million shares, with a total trading value of 50.3541 trillion won. Including three stocks that hit their upper price limit, 291 stocks rose, while 589 stocks fell, including three that hit their lower price limit. Thirty-six stocks traded flat.
The KOSDAQ market closed at 887.81, down 2.36% (21.50 points) from the previous trading day. Among the top market-cap stocks, declines were the norm, with JUSUNG ENGINEERING Co.,Ltd.(036930)falling by more than 8%, and ECOPRO CO., LTD(086520) and ECOPRO BM CO., LTD.(247540)each dropping by more than 5%.