South Korean equities opened sharply higher on Thursday, buoyed by a wave of buying in semiconductor shares following a stronger-than-expected earnings report from US memory chipmaker Micron Technology.
The positive sentiment from the US tech giant provided a crucial catalyst for the Korean market, which has been seeking stability after a volatile period for global technology stocks.
86 percent, or 152.95 points, in a decisive break from the broader global technology selloff.
The rally in Seoul marks a continuation of the recovery seen on Wednesday, when the benchmark Kospi index surged 1.86 percent, or 152.95 points, in a decisive break from the broader global technology selloff.
That previous session saw significant losses in US tech shares, yet Korean markets managed to decouple from the downward pressure, driven largely by domestic semiconductor strength.
Micron’s performance serves as a key indicator for the health of the memory chip cycle, a sector that is disproportionately important to the Korean economy.
The earnings beat suggests that demand for memory components remains resilient, helping to offset concerns about a broader slowdown in the technology sector.