KOSPI Nears Reclaiming the 9,000 Level as Race for No. 1 by Market Cap Intensifies [Market Close]

[Financial News] KOSPI came close to reclaiming the 9,000 level. Strong earnings from U.S. chipmaker Micron lifted sentiment toward artificial intelligence chip investments, pushing up the index on gains in heavyweight semiconductor stocks such as Samsung Electronics and SK hynix. According to the Korea Exchange (KRX) on the 25th, KOSPI closed at 8,934.29, up 5.47% from the previous session. By investor type, foreigners and individuals posted net sales of 819.7 billion won and 2.4931 trillion won, respectively, while institutions bought 3.3465 trillion won worth of shares, driving the index higher.
Among the top stocks by market cap, Samsung Electronics closed at 358,500 won, up 5.29%, while SK hynix jumped 13.06% to finish at 2,917,000 won.
Samsung Electronics common shares had a market cap of 2,095 trillion won, while SK hynix stood at 2,078 trillion won. The gap between the two was just 16.9381 trillion won, or 0.81%. At one point during the session, SK hynix rose more than 14%, briefly retaking the No. 1 spot by market cap.
Analysts said Micron's strong results, released after the U.S. market closed overnight, sharply improved investor sentiment toward domestic semiconductor stocks. Micron said revenue for the third and fourth quarters of fiscal 2026, covering March to May, reached a record $41.456 billion, or about 64 trillion won. That marked a 74% increase from the previous quarter and a roughly 346% jump from a year earlier, far exceeding both the company's guidance and market expectations.
Han Ji-young, a researcher at Kiwoom Securities, said, "It is positive that Micron, which announced earnings after the market close, delivered an earnings surprise." She added, "This is a factor that is improving investor sentiment in major markets, including South Korea, which suffered a historic plunge earlier this week."
KOSDAQ closed at 887.81, down 2.36% from the previous session, as profit-taking orders hit the market. Among the top stocks by market cap, EcoPro BM (-5.57%), EcoPro (-5.29%), Jusung Engineering (-8.50%), and HLB (-2.58%) fell, while Alteogen (0.94%), Rainbow Robotics (0.19%), and LEENO Industrial Inc. (4.11%) ended higher.
fair@fnnews.com Han Young-joon Reporter