SEOUL, June 25 (AJP) — South Korean stocks surged toward reclaiming the 9,000 milestone as chip stocks were refueled by multiple catalysts, from Micron Technology's blowout earnings to SK hynix's Nasdaq listing plan and Samsung Electronics' massive buyback program.
The benchmark KOSPI opened 5.55 percent higher and was up 5.61 percent at 8,946.02 as of 9:36 a.m. The junior KOSDAQ opened 1.10 percent higher before easing to 913.47, up 0.46 percent.
Samsung Electronics and SK hynix led the rally after Micron Technology posted blockbuster quarterly earnings and projected the AI memory supercycle would extend well beyond 2027, setting the stage for another red-hot earnings streak by the larger Korean chipmakers.
The U.S. chipmaker, the world's third-largest DRAM producer behind Samsung Electronics and SK hynix, reported fiscal third-quarter revenue of $41.46 billion, up 74 percent from the previous quarter and nearly 4.5 times higher than a year earlier. The figure exceeded both the company's revenue guidance of about $33.5 billion and Wall Street's estimate of roughly $35.8 billion. Adjusted earnings per share came in at $25.11, well above the consensus estimate of $20.86.
The company forecast fourth-quarter revenue of $49 billion to $51 billion, significantly above analysts' expectations, and projected gross margins of around 86 percent. Micron shares jumped about 13 percent in after-hours trading following the earnings release.
The record results were driven by booming demand for high-bandwidth memory (HBM) and server DRAM used in AI data centers. Micron said demand continues to outstrip supply and that its entire HBM production for 2026 has already been sold under fixed-price contracts, reinforcing expectations that the AI-driven memory upcycle has further room to run.
Samsung Electronics is scheduled to report preliminary second-quarter earnings in early July and full results later in the month. SK hynix is expected to release its earnings in late July.
As of 9:18 a.m., Samsung Electronics rose 5.14 percent to 358,000 won, while SK hynix surged 9.38 percent to 2,822,000 won. The chip euphoria also lifted Japan's Nikkei 225 by 2.3 percent.
SK hynix announced Wednesday after the market closed that it is launching a roughly $33 billion public offering tied to a Nasdaq listing of American Depositary Receipts (ADRs), with subscription and payment scheduled for July 10 and July 14, respectively.
Samsung Electronics earlier in the day unveiled a $65 billion buyback program.
Beyond the chipmakers, Samsung affiliates broadly advanced. Samsung C&T surged 14.23 percent to 550,000 won, Samsung Life Insurance climbed 6.58 percent to 461,500 won, Samsung Biologics gained 2.24 percent to 1,416,000 won, and Samsung Electro-Mechanics rose 1.48 percent to 199,300 won. Samsung Electronics preferred shares also jumped 7.26 percent to 229,000 won.
SK Group shares also rallied, with SK soaring 14.61 percent to 816,000 won and SK Square advancing 6.84 percent to 1,922,000 won.
Elsewhere, HD Hyundai Heavy Industries rose 4.60 percent to 614,000 won, Kia gained 2.95 percent to 143,000 won, LG Energy Solution added 1.09 percent to 369,500 won, Hyundai Motor edged up 0.98 percent to 514,000 won, and Doosan Enerbility also inched up 0.66 percent to 91,200 won.
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