Micron Technology released its third fiscal quarter results, far exceeding market expectations, driving a sharp rise in the South Korean stock market. On June 25, the Korea Composite Stock Price Index (KOSPI) opened at 8,703.42 points and reached 8,932.69 points as of 9:05 a.m., surging 461.67 points from the previous trading day. SK Hynix surged over 10% in pre-market trading, triggering a static volatility interruption. After the interruption was lifted, the stock price quickly climbed to the 2.8 million KRW level.
KOSPI Early Market Data: 8,932.69 Points, Fund Flows by Investor Type
Market data as of 9:05 a.m. on June 25, 2026: KOSPI stood at 8,932.69 points (+461.67 points, +5.45%), compared to the previous closing level of around 8,400 points; the opening was at 8,703.42 points.
Fund flows by investor type (KOSPI): Individual investors net bought approximately 490 billion KRW; institutional investors net bought approximately 100 billion KRW; foreign investors net sold approximately 600 billion KRW (net selling for the fifth consecutive trading day, with cumulative net selling of approximately 12.2 trillion KRW over the past five trading days).
SK Hynix Static Volatility Interruption (VI) Triggered and Semiconductor Sector Performance
SK Hynix rose more than 10% in pre-market trading, triggering a static volatility interruption (VI), with the stock switching to single-price trading for two minutes. After the VI was lifted, the stock price quickly climbed back to the 2.8 million KRW level, and the broader KOSPI also rose to around 8,900 points during the same period. Samsung Electronics simultaneously returned to the 360,000 KRW level.
Companies holding shares in SK Hynix and Samsung Electronics also generally strengthened, including SK Square, Samsung Life Insurance, and Samsung C&T, whose equity values attracted market attention due to their holdings in these semiconductor leaders.
Micron Q3 Results Trigger: Revenue Reached $41.46 Billion, YoY 345.7%
Micron Technology released its Q3 FY2026 earnings after the NYSE close: Q3 (March to May 2026) revenue reached $41.46 billion (approximately 64 trillion KRW), up 345.7% year-on-year; operating profit margin was 81.2%; adjusted earnings per share (EPS) was $25.11, far exceeding the market consensus of $20.78; Micron's stock rose 15% in after-hours trading.
Kiwoom Securities analyst Han Ji-young pointed out: "In a favorable macro environment including falling oil prices and the US 10-year Treasury yield dropping below 4.4%, Micron's earnings surprise, along with the KOSPI200 index overnight futures rising over 5%, jointly drove the index to surge at the open."
FAQ
What is a static volatility interruption (VI), and why did SK Hynix trigger it?
A static volatility interruption is an automatic protection mechanism activated by the Korea Exchange when a stock experiences excessive short-term volatility. After triggering, the stock switches to single-price trading (only buy/sell orders are accepted, no matching) for approximately two minutes to prevent excessive fluctuations. SK Hynix's pre-market gain of over 10% on June 25 triggered this mechanism.
Why did the market still surge despite foreign investors selling 12.2 trillion KRW net over five consecutive days?
According to the day's data, individual investors net bought 490 billion KRW and institutions net bought 100 billion KRW, with combined buying power lower than foreign investors' net selling of 600 billion KRW. However, the emotional impact of Micron's earnings and the KOSPI200 overnight futures gain of over 5% caused a large gap-up opening, and sustained foreign outflows failed to offset overall bullish momentum.
What does the drop in oil prices to $70 mean for the South Korean stock market?
According to Kiwoom Securities analysts, falling oil prices are one of the favorable macro factors for the South Korean stock market. South Korea is a country highly dependent on energy imports, and lower oil prices help reduce manufacturing costs and improve corporate profit expectations. Combined with Micron's earnings surprise and the strong performance of KOSPI200 overnight futures, this drove the sharp opening rally on June 25.
