Key Takeaways
- Micron Technology (MU) triggered a massive regional tech rally after reporting record fiscal Q3 revenue of $41.5 billion and gross margins of 84.9%, crushing Wall Street estimates.
- South Korea’s KOSPI led regional gains, surging as much as 5.5% in early trading, a dramatic reversal from the previous session's "Black Tuesday" sell-off.
- Japan’s Nikkei 225 jumped 2.0%, supported by a 2.66% surge in futures and positive capital flow data showing foreign investors returned to Japanese equities with ¥479.4 billion in net purchases.
- Oil prices plunged to four-month lows, with Brent crude falling over 4% toward $73 per barrel as a U.S.-Iran ceasefire framework significantly eased Middle East supply concerns.
- SK Hynix (000660) is reportedly planning a major expansion of its NAND fabrication facilities in Cheongju to address persistent memory shortages.
The Asia-Pacific equity markets opened with a strong positive bias on Thursday, June 25, 2026, as the semiconductor sector found its footing following a period of intense volatility. The primary catalyst was an exceptional earnings report from Micron Technology (MU), which served as a critical "stress test" for the global artificial intelligence (AI) trade. Micron’s results, featuring an adjusted EPS of $25.11 against a $20.78 consensus, signaled that demand for AI-related memory infrastructure remains robust despite recent market skepticism.
In Seoul, the KOSPI index staged a powerful recovery, gaining 2.9% in the main session while KOSPI 200 futures soared over 5.5%. This rebound follows a harrowing 10% plunge on Tuesday that had triggered market-wide circuit breakers. Sentiment was further bolstered by reports that SK Hynix (000660) is contemplating an amplified investment in its Cheongju NAND fabrication plant, marking its first major NAND expansion since 2018. The company also recently filed a $29 billion ADR prospectus with the SEC, aiming for a U.S. listing in July.
Japanese markets also saw a significant trend reversal. The Nikkei 225 rose 2.0% to reclaim ground above the 70,000 mark, supported by strong initial trading in futures. Weekly order flow data released by the Ministry of Finance revealed a shift in sentiment: while foreign investors offloaded ¥1.06 trillion in Japanese bonds, they became net buyers of Japanese stocks to the tune of ¥479.4 billion. Additionally, Fitch Ratings issued a positive outlook for Japanese non-life insurers, including Tokyo Marine Holdings (8766) and Sompo Holdings (8630), citing solid underwriting performance and rising interest rates as drivers for sustained profitability.
Energy markets provided a disinflationary tailwind for the region as oil futures continued their descent. Brent crude and WTI both hit their lowest levels since early March, driven by signs of normalized shipping through the Strait of Hormuz. The easing of geopolitical tensions between the U.S. and Iran has effectively removed the "war risk premium" from crude prices, providing relief to major energy importers across Asia.
While most markets rallied, the Australian S&P/ASX 200 remained an outlier, opening 0.3% lower. The soft performance in Sydney was attributed to a cooling commodities sector as global supply chains stabilized. However, the broader regional narrative remains dominated by the "AI-memory boom," with investors looking toward the upcoming U.S. Personal Consumption Expenditures (PCE) data for further cues on the global interest rate trajectory.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.