[R&E] KOSPI Rebounds 3.26%, Driven by Simultaneous Strength of Samsung Electronics and SK Hynix Semiconductors and Share Buyback Effect

[R&E: Research & Epoch] This is News Epoch's signature report that provides a prospect into a new era of investment by comprehensively analyzing global financial data and domestic securities firm research.

Global Market Brief

The U.S. New York stock market closed mixed amid slowing macroeconomic indicators and a downward trend in interest rates. As of the close on Wednesday, June 24, 2026, the Dow Jones Industrial Average recorded 51,848.90pt, up 0.35% from the previous day. On the other hand, the S&P 500 Index fell 0.10% to 7,358.22pt, and the Nasdaq Composite Index dropped 0.43% to close at 25,476.63pt. The Russell 2000 Index, centered on small and mid-cap stocks, rose 0.37% to record 2,986.63pt.

U.S. Treasury yields faced downward pressure. The 10-year Treasury yield fell 10.5 bps from the previous day to 4.3922%, and the 2-year yield closed down 5.3 bps at 4.1456%. This reflects expectations of easing monetary tightening after U.S. new home sales in May reached only 580,000, falling short of the market consensus (640,000). International crude oil (WTI) closed at $70.34 per barrel, down 3.92% from the previous day, threatening the $70 per barrel mark. Concerns over slowing demand in the raw materials market combined with sluggish U.S. housing data stimulated preference for safe assets across the overall asset market.

Domestic Market Overview

The domestic stock market succeeded in a strong rebound, overcoming the sharp decline of the previous trading day. On Wednesday, June 24, 2026, the KOSPI index closed at 8,471.02pt, up 3.26% from the previous day. The KOSDAQ index also showed simultaneous strength, rising 2.00% to record 909.31pt. This is the result of technical buying following the panic selling on Tuesday, June 23, when the KOSPI and KOSDAQ plunged 9.99% and 7.94% respectively, triggering circuit breakers in both markets, coupled with the shareholder return policies of large-cap IT stocks.

Foreigners led the supply dominance by recording a net selling of 31 trillion won in the KOSPI market from the beginning of June until the 24th, but downward rigidity was secured by news of a massive share buyback by a large-cap semiconductor stock reported after the previous market close and the improved earnings outlook of a global semiconductor company. The KRW/USD exchange rate recorded 1,541.80 won based on the previous day's closing price in the Seoul foreign exchange market, and closed higher at 1,542.70 won in the night market. After the opening on Thursday the 25th, the domestic stock market is analyzed to receive upward pressure influenced by the earnings surprise and after-hours surge of a global semiconductor manufacturer announced after the U.S. market closed the previous day.

Key Industry Issues and Insights

Structural Reorganization and Capital Expansion in the Memory Semiconductor Market

The memory semiconductor industry has moved beyond temporary supply-demand fluctuations and entered a structural transition phase based on long-term contracts. Samsung Electronics (KOSPI: 005930) officially announced a massive share buyback plan worth 89 trillion won over the next three years to defend its stock price and enhance shareholder value. Consequently, Samsung Electronics' stock price closed with a sharp 9.84% surge the previous day. SK Hynix (KOSPI: 000660) also rose 0.98%, but as Samsung Electronics rebounded significantly, Samsung Electronics recaptured the No. 1 spot in market capitalization in just two days, while SK Hynix relinquished the top position. Meanwhile, SK Hynix decided to list its ADRs on the U.S. Nasdaq market on the 10th of next month and will embark on large-scale global fundraising by issuing 17.79 million new shares equivalent to 45.45 trillion won (approximately $29.65 billion).

These movements of domestic large-cap stocks are consistent with structural changes in the global market. The U.S.-based Micron reported a revenue of $41.5 billion in its fiscal third-quarter earnings release, a 346% increase year-over-year. In particular, data center revenue surpassed $25 billion, and the non-GAAP gross margin soared to 84.9% from 39% in the same period last year. Earnings per share (EPS) also recorded $25.11, significantly exceeding market expectations ($19.5~$19.9). Micron has signed 16 long-term Strategic Customer Agreements (SCAs) using a binding 'Take-or-pay' method for five years from 2026 to 2030. Upon fulfillment of the contracts, over 50% of total revenue will be converted to long-term contracts, proving that it can control cyclical volatility, which was a chronic limitation of the memory market in the past. This suggests the possibility of leading to securing financial resources for capital expenditures and valuation re-rating of domestic semiconductor companies amidst ongoing supply shortage phases.

Bio/Healthcare, Massive Capital Inflows and Initiation of Global Joint Research

The domestic pharmaceutical and bio sector is strengthening its research and development momentum based on large-scale investment attraction and technology export cooperation. AprilBio (KOSDAQ: 397030) surged 15.57% the previous day. This is the result of reflecting the achievement of attracting a third-party allocation paid-in capital increase investment totaling 346.8 billion won from private equity fund IMM and TKG Huchems. Peptron (KOSDAQ: 087010) saw its stock price soar 14.59% the previous day on the news of signing a joint research agreement with Switzerland's Debiopharm for a MUC1-targeted Antibody-Drug Conjugate (ADC). Samsung Biologics (KOSPI: 207940) also rose 8.80%, adding warmth to the entire sector.

In the global market, large-scale deals for biopharmaceutical delivery platforms are continuously occurring. Global big pharma Eli Lilly expanded a new drug discovery collaboration with China's Abbisko worth up to $1.9 billion, and Novartis signed an anticancer drug candidate development contract with Antares worth up to $1.8 billion in milestones, with an upfront payment of $105 million. The revitalization of fundraising and initiation of joint research prove that domestic bio companies have laid a bridgehead to materialize commercial achievements early through partnerships with top-tier global pharmaceutical companies.

Entry into the Aerospace Materials Supply Chain and Capital Expenditure for Production Facilities

As the speed of building the value chain of the global space industry accelerates, the market dominance of domestic technology companies supplying core materials is expanding. According to the NDR data of Sang-A Frontec (KOSDAQ: 089980), its sales of ETFE films bound for Starlink, a global satellite communication service, are trending upward by approximately 40~50% year-over-year. Sang-A Frontec's share within Starlink is around 85%, effectively securing a monopolistic supply position. The revenue from the membrane business used in hydrogen fuel cells and high-value-added industries, as well as the medical device segment, also recorded high growth rates of 40% and 30~40% year-over-year, respectively. The combined revenue of these three specialized divisions is approximately 40 billion won.

Sang-A Frontec has executed a total of 115.2 billion won in capital expenditures over the past four years. Accordingly, its depreciation expenses increased from 15 billion won in 2025 to around 20 billion won in 2026, but the operation of the cap assembly line for ternary BESS in the U.S. and the increase in shipments of global aerospace materials are offsetting the fixed cost burden. Meanwhile, HVM (KOSDAQ: 295310), an aerospace special steel manufacturer, announced a 10 billion won increase in short-term borrowings to expand its production capacity, and Genohco (KOSDAQ: 361390), a satellite communication equipment company, showed its commitment to management stability and performance improvement as its Chief Technology Officer (CTO) purchased 2,534 of the company's shares on the open market. The high growth of the global space market acts as an opportunity for domestic small and mid-cap technology stocks to be directly incorporated into the global value chain and preempt long-term sales destinations.

Market Signals

• Micron's Earnings Surprise: Recorded Q3 revenue of $41.5 billion, increasing 346% year-over-year, and posted an EPS of $25.11, exceeding market forecasts. Surged by around 13% in after-hours trading.

• Samsung Electronics' Share Buyback Card: Announced a plan to buy back shares totaling 89 trillion won over the next three years, leading to a 9.84% rebound in its stock price the previous day.

• AprilBio's Massive Investment Attraction: Succeeded in attracting a third-party allocation paid-in capital increase totaling 346.8 billion won from entities including IMM and TKG Huchems, with its stock price soaring 15.57% the previous day.

• Simultaneous Decline in U.S. Treasury Yields: 10-year yield fell to 4.3922% (-10.5 bps) due to U.S. new home sales in May coming in at 580,000, falling short of expectations (640,000), and favorable Treasury auctions.

Epoch View: Investment Implications

The 3.26% rebound in the KOSPI market the previous day goes beyond a simple technical retracement due to an excessive drop; it is the result of the combination of capital reallocation strategies such as massive capital expansion and large-scale share buybacks by leading domestic companies. Amid global macroeconomic uncertainty and signs of an economic slowdown, the trend of companies defending the lower bound of their valuations through share buybacks and global market fundraising serves as a positive signal for the market.

The restructuring of Micron's long-term Strategic Customer Agreements (SCAs) and its earnings growth proved that the memory semiconductor industry is securing structural stability, breaking away from its chronic 'rain-dependent' structure. In next-generation growth sectors such as aerospace and biotech, capital inflows are also concentrating on domestic companies equipped with globally competitive components and materials or licensing partnerships. The global trend of easing monetary tightening, combined with aggressive shareholder returns and capital raising by large-cap stocks, will become the core driving force for the domestic stock market to buffer macro shocks and achieve fundamental improvements.

This content was generated through News Epoch's proprietary AI algorithm, which tracks and analyzes public data from research centers of major domestic securities firms and global financial media in real time. It is an objective summary based on collected data and does not constitute a solicitation or recommendation for investment in any specific stock.