Korean semiconductor stocks face a critical week as three major catalysts converge following a two-day KOSPI decline. Micron's earnings release on October 1 Korean time, September semiconductor export data due the same day, and NVIDIA's $150 billion share buyback announced September 28 are positioned to test investor sentiment in Samsung Electronics and SK Hynix. The KOSPI fell 0.27% to 6870.81 on September 29, extending losses after a 2.70% drop on September 28 when Samsung and SK Hynix each plunged over 5%. Market participants are focusing on whether Micron's results will confirm the memory upcycle, as Korea's September 1-20 semiconductor exports surged 259.4% year-over-year to $34.128 billion, and NVIDIA's massive buyback signals continued confidence in AI chip demand growth.
KOSPI Records Second Consecutive Decline on September 29
The KOSPI closed at 6870.81 on September 29, down 18.93 points or 0.27% from the previous session, according to Korea Exchange data. The index extended its decline following a 2.70% drop on September 28, marking two consecutive days of losses after the Chuseok holiday. Samsung Electronics and SK Hynix bore the brunt of the selloff on September 28, each falling over 5% amid concerns over rising oil prices, interest rates, and weakening AI semiconductor sentiment during the holiday period. Samsung Electronics posted a modest rebound on September 29, while SK Hynix continued to decline for a second day.
Micron Earnings Release Scheduled for October 1 Korean Time
U.S. memory chipmaker Micron is set to report earnings in the early hours of October 1 Korean time. Market participants will scrutinize whether Micron maintained high profitability amid recent memory price increases and how the company guides for the next quarter. The company's outlook on high-bandwidth memory (HBM) demand for AI data centers and the server memory market is anticipated to influence sentiment toward Korean semiconductor stocks. Analysts view the earnings as a key test of whether the memory sector's fundamentals remain strong enough to support a rebound in large-cap semiconductor stocks on the KOSPI.
Korea September Semiconductor Exports Surge 259.4% in First 20 Days
Korea's exports from September 1-20 totaled $71.4 billion, up 78.3% year-over-year, according to Korea Customs Service data. Semiconductor exports drove the overall increase, surging 259.4% to $34.128 billion during the same period. If the trend continues through month-end, the full September data released on October 1 is expected to reconfirm robust export performance centered on semiconductors. The strong export figures provide concrete evidence of the semiconductor industry's momentum, complementing expectations around Micron's earnings.
NVIDIA Announces $150 Billion Share Buyback on September 28
NVIDIA added $150 billion to its existing share repurchase program on September 28 local time, expanding the remaining buyback authorization to a total of $235 billion. Market observers interpret the decision as a demonstration of confidence in the massive cash flows generated by NVIDIA's AI semiconductor business and its future growth trajectory. The announcement has drawn attention to potential additional shareholder return plans from Samsung Electronics and SK Hynix. Samsung Electronics plans to hold a board meeting in late October to approve a cash dividend of approximately 30 trillion won, including the third-quarter regular dividend, and will decide on the method and scale of returns — including cash dividends and share buybacks with cancellations — at a January board meeting. SK Hynix also plans to disclose additional shareholder returns following a board resolution at the time of its third-quarter earnings announcement in late October.
Analysts Highlight Semiconductor Sector Rebound Potential
Lee Sang-yeon, researcher at Shinhan Securities, stated that "with Micron's earnings announcement as a catalyst, it is necessary to focus on a rebound attempt in KOSPI centered on large-cap semiconductor stocks," adding that "if earnings forecasts rise again while AI investment expectations are maintained, it could serve as an opportunity to narrow the gap between lowered stock prices and profits." Lee Jae-won, researcher at Yuanta Securities Korea, assessed that "considering the recently accelerated rise in memory spot prices, GPU rental prices still soaring, and Micron earnings and semiconductor export data to be released on October 1, fundamentals are judged to be solid," advising that "it is time to focus on whether the relative strength of existing AI and semiconductor leaders and policy/facility investment beneficiaries (AI infrastructure beneficiaries) is maintained." Han Ji-young, researcher at Kiwoom Securities, evaluated that "as major events that can lead to a market sentiment reversal — such as Micron earnings, U.S. September employment, and Korea September exports — are waiting, the practical benefit of a strategy that responds to emerging volatility with stock selling is expected to be low."
FAQ
What events are scheduled for October 1 related to Korean semiconductor stocks?
Micron's earnings release is scheduled for the early hours of October 1 Korean time, and Korea's full September export data — including semiconductor export figures — will be released the same day. These events are positioned to provide concrete evidence of memory sector fundamentals and export momentum.
What did NVIDIA announce on September 28?
NVIDIA announced on September 28 local time that it added $150 billion to its existing share repurchase program, expanding the total remaining buyback authorization to $235 billion. The decision is interpreted as a signal of confidence in AI semiconductor business cash flows and future growth.
When will Samsung Electronics and SK Hynix announce additional shareholder returns?
Samsung Electronics plans to hold a board meeting in late October to approve approximately 30 trillion won in cash dividends and will decide on additional return methods and scale at a January board meeting. SK Hynix plans to announce additional shareholder returns following a board resolution at its late October third-quarter earnings release.
