South Korea's KOSPI jumps 1.95% as Micron earnings lift semiconductor shares

  • South Korean chipmakers lifted the KOSPI 1.95% after record export growth.
  • KOSPI was reported at 6,971.35, while an earlier account cited 6,917.35.
  • Foreign investors sold a net 547.3 billion won of South Korean shares.

South Korean shares recovered from early losses on Oct. 1, with the KOSPI rising 133.31 points, or 1.95%, as record export growth and gains in chipmakers improved sentiment. Reuters reported the index closed at 6,971.35 after falling as much as 1.1% during the session, while an earlier account cited a 6,917.35 close and described that figure as a revision. Samsung Electronics rose 2.79% and SK Hynix gained 3.21% after Micron Technology forecast quarterly revenue above estimates and said customer commitments under long-term supply agreements had reached $32 billion. South Korea's September exports jumped 83.5% from a year earlier to a record $120.9 billion, exceeding a 62.0% median forecast as semiconductor shipments more than tripled. Foreign investors were net sellers of 547.3 billion won of shares, the won weakened to 1,358.4 per dollar, and the finance minister said authorities would monitor markets and act pre-emptively if necessary.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.