The KOSPI surged at the open on the 25th after Micron Technology reported results that beat market expectations. The index, which was 8,400 the previous day, immediately returned to the 8,900 level.

As of 9:05 a.m., the KOSPI was up 461.67 points (5.45%) from the previous trading day at 8,932.69. The index opened at 8,703.42 right after the market opened. SK hynix, which jumped more than 10% in the premarket, triggered the static volatility interruption (VI) at the open, switching to single-price trading for two minutes. After the VI was lifted, the index quickly rose to the 8,900 level.

The closing price appears on the dealing room board at the Hana Bank headquarters in Jung-gu, Seoul, on the 24th as Samsung Electronics rises 9%./Courtesy of News1

By investor type, individuals and institutions are net buying 490 billion won and 100 billion won, respectively. Foreign investors, on the other hand, are net selling 600 billion won. Foreign investors have continued net selling for the past five trading days, net selling a cumulative roughly 12.2 trillion won.

Semiconductor stocks are leading the index higher. SK hynix and Samsung Electronics have each reclaimed the 2.8 million won and 360,000 won levels. SK Square, Samsung Life Insurance, and Samsung C&T, whose equity values are highlighted by their stakes in the two companies, are also showing strength together.

Micron announced an "earnings surprise" after the New York market close that day. Micron's fiscal year third-quarter (March–May) revenue was $41.46 billion (about 64 trillion won), up 345.7% from a year earlier. The operating margin was 81.2%. Adjusted earnings per share (EPS) were $25.11, far exceeding the market consensus of $20.78. Micron is up 15% in after-hours trading.

International oil prices are also stabilizing. August West Texas Intermediate (WTI) and Brent crude futures are trading around $70 per barrel.

Han Ji-young, a Kiwoom Securities researcher, said, "In a favorable macro environment, including falling oil prices and the U.S. 10-year Government Bonds yield falling below 4.4%, Micron's earnings surprise and the more than 5% strength in the KOSPI200 night futures combined to send the index surging at the open."

At the same time, the KOSDAQ index was up 19.31 (2.07%) from the previous trading day at 928.16. While individuals are net buying 52 billion won, foreign investors are net selling 10.5 billion won and institutions are net selling 38 billion won.

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