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Seoul stocks surge sharply on Micron earnings
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The KOSPI index opened sharply higher on June 25, driven by Micron Technology's strong earnings. It rose 5.61 percent to 8,945.95 by 9:15 a.m.
The benchmark KOSPI index fell 9.99 percent to close at 8,203.84 on June 23 after foreign investors sold major semiconductor shares amid U.S. tech losses. The Korea Exchange activated a circuit breaker to halt trading for 20 minutes.
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SpaceX lost more than $600 billion in market value over three trading days following its plan to issue at least $20 billion in bonds. The move funds AI expansion linked to its xAI acquisition. Bitcoin held steady with a decline of less than 1 percent.
Approximately $26 billion in shares from 71 recently listed companies will become available for sale as IPO lock-ins expire between June 17 and September-end. A significant portion, totaling $15.96 billion from 31 companies, is set to become eligible in the coming month.
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The Nikkei 225 index surpassed 70,000 points following a preliminary agreement between the U.S. and Iran to reopen the Strait of Hormuz.
MTAR Tech shares rebounded sharply, gaining 12% after falling 15% over two days. The recovery followed company statements addressing investor concerns about a possible project delay.
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Four companies created by Vedanta's demerger are set to begin trading on June 15. Analysts recommend one of them as a strong buy.
South Korea stock plunge sends Bitcoin below $63,000
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