Micron Earnings Preview Weighs as Kospi's 4% Jump Fades to 1%
MU•South Korea's KOSPI opened at 8,356.79, jumped 4% to 8,543.68, but retreated to 8,297, trimming gains to about 1%. With Micron Technology earnings due after US close, traders shunned long positions, reflecting cautious sentiment in semiconductor futures.
1. Kospi's Early Rally and Pullback
South Korea’s KOSPI opened at 8,356.79, up 1.86% from its previous close, and surged to 8,543.68—a 4% gain—before retreating to around 8,297, trimming the day's advance to roughly 1% as bargain-hunting bids gave way to profit-taking.
2. Micron Earnings Pressure
With Micron Technology set to report earnings after the U.S. close, futures linked to the semiconductor maker came under pressure as traders opted to reduce exposure ahead of the release, limiting buying momentum in the broader market.
3. Divergence Among Korean Chipmakers
Samsung Electronics held relatively steady near 322,500 won, while SK Hynix slumped from an early peak of 2,653,000 won to 2,467,000 won, underscoring how AI chip sentiment can spark sharper reversals in higher-premium names and may foreshadow similar swings for Micron.
4. Investor Behavior and Market Sentiment
Retail investors and institutions initially fueled the bounce, but foreign participants remained net sellers, signaling uneven conviction as markets price in recent U.S. semiconductor downturn and weigh potential surprises in Micron’s upcoming financial results.
