Micron Joins Global Chip Rally as KOSPI Recovers 8.18% Post-Selloff
MU•South Korea’s KOSPI plunged then surged 8.18% over June 8-9, driven by a 16%+ recovery in Samsung Electronics and SK Hynix. Global chip stocks including Micron and Intel climbed as investors priced in renewed AI-driven demand after Broadcom’s weak AI chip guidance prompted a sell-off.
1. KOSPI’s Sharp Rebound
On June 8 the KOSPI fell sharply before rebounding 8.18% the next session, marking its strongest one-day recovery of 2026. The swing was led by Samsung Electronics and SK Hynix, which had tumbled over 7% to 10% before bouncing back more than 16%.
2. Micron Among Leading Chip Gainers
Global chip stocks joined the rally, with Micron and Intel posting notable overnight gains alongside a broader Nasdaq advance. The rebound reflects renewed optimism in semiconductor demand after the sector’s prior sell-off.
3. Key Drivers of Volatility
The prior downturn began when Broadcom issued weaker-than-expected AI chip forecasts, triggering a positioning-driven unwind. Structural factors such as leveraged single-stock ETFs in Korea and an ongoing AI capex boom amplified both the sell-off and the subsequent rebound.
