Micron Effect: KOSPI Surges Over 5%, Eyes 9,000 Mark Again

Micron's Record-Breaking Results Spark Rally in KOSPI
Buy Sidecar Triggered Immediately After Market Open

Yonhap News Agency

Micron Technology, the U.S. memory chipmaker, has delivered results and an outlook that exceeded market expectations, bringing renewed momentum to the Korean stock market.

On June 25, the KOSPI opened at 8,703.42, up 2.74% from the previous day. Immediately after the market opened, strong buying pushed the index up more than 5%, which triggered the buy sidecar (a temporary suspension of program buy orders) at 9:07:03 a.m.

The KOSPI sidecar is triggered when the KOSPI 200 futures price rises by more than 5% from the reference price and maintains that level for one minute. The effectiveness of program buy orders is suspended for five minutes. At the time of the trigger, the KOSPI 200 futures index was up 5.81% from the previous day at 1,455.56. As of 9:28 a.m., the KOSPI index was at 8,951.30, up 5.67% from the previous day.

Both retail and institutional investors maintained strong buying. They net purchased 321 billion won and 659.4 billion won, respectively, while foreign investors had already net sold 1.0275 trillion won.

Almost all sectors were on the rise. Many sectors rose by more than 5%, including distribution (9.51%), securities (7.45%), electrical and electronics (7.19%), manufacturing (6.23%), and insurance (5.00%). Only the paper and lumber sector declined, falling by 1.31%.

Most of the top 10 companies by market capitalization also surged. SK hynix and Samsung C&T posted double-digit gains, up 10.2% and 15.0%, respectively. SK Square (6.3%), Samsung Life Insurance (6.0%), Samsung Electronics (5.9%), Samsung Electro-Mechanics (3.6%), and HD Hyundai Heavy Industries (3.0%) also showed strong performances. Hyundai Motor (-0.2%) and LG Energy Solution (0.4%) were relatively flat.

The KOSDAQ started at 923.66, up 1.58% from the previous day. By 9:28 a.m., it had edged down slightly to 920.77.

In the KOSDAQ market, foreign and institutional investors net sold 163.2 billion won and 43.0 billion won, respectively. Retail investors net purchased 214.2 billion won.

Here too, most sectors recorded gains. General services (2.68%), construction (2.37%), pharmaceuticals (1.67%), distribution (1.03%), and transport and storage (1.00%) posted notable increases. In contrast, publishing and media replication (-1.27%), metals (-0.81%), entertainment and culture (-0.53%), and IT services (-0.38%) declined.

Among the KOSDAQ’s top 10 companies by market capitalization, results were mixed. Alteogen (6.3%), Samchundang Pharm (3.5%), Legochem Bioscience (3.4%), Leeno Industrial (1.8%), HLB (1.7%), and Wonik IPS (0.7%) rose. Meanwhile, Jusung Engineering (-4.2%), Ecopro (-2.0%), Ecopro BM (-1.3%), and Rainbow Robotics (-0.3%) fell.

This content was produced with the assistance of AI translation services.