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Informist, Thursday, Jun. 25, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Most Asian mkts rise on gains in chipmaking stocks; Kospi up 5%

 

MUMBAI--0820 IST--Most equity indices in Asia were up in early trade, tracking gains in US stock futures of chipmaking companies after the quarterly earnings of semiconductor Micron Technology sharply exceeded expectations. South Korea's Kospi led the gains in the region, recovering most of the losses from its crash earlier this week. Japan's Nikkei 225 was also among the top performers in the region in early trade.

 

Thursday, futures of the tech-heavy Nasdaq gained nearly 2?ter Micron Technology's revenue for the reporting quarter more than quadrupled on year to $41.46 billion, beating the LSEG consensus view of $35.84 billion. The memory chipmaker also reported a gross margin of 84.9%, up from 74.9% in the previous quarter and 39% a year ago. Subsequently, futures of the stock were up 15%, triggering a positive view towards the sector after the rout seen in the past few sessions.

 

Semiconductor peers in South Korea also tracked the gains in Micron. Kospi heavyweight SK Hynix gained over 9% in early trade. The stock rose after the memory chipmaker unveiled its plan for a $29-billion US listing, a move that analysts viewed as boosting valuations through capacity expansion and greater foreign investor access, CNBC reported. The company plans to issue 17.79 million new shares in the form of American depositary receipts through a listing on the Nasdaq. "We expect to elevate our status as a global company by broadening our touchpoints in the United States, the epicenter of AI (artificial intelligence) technological innovation," the company said. Its peer Samsung Electronics was up nearly 5% during early trade.

 

The Nikkei 225 was up nearly 4?ter ending lower for two straight sessions. Stocks in the index rose on possible dip-buying interest. "For now, though, this still looks more like a reset in sentiment than the start of a broader market breakdown," Dow Jones Newswires quoted Zaheer Anwari, co-founder and chief executive officer at The Revacy Fund, as saying. Among the laggards in the region, Australia's S P/ASX 200 index was down 0.4%, while Hong Kong's Hang Seng, down over 1%, was the worst hit among peers, extending its losses after a gap-down opening.

 

Following are the levels of key indices in the region at 0812 IST:

 

Index	Level	Change in %
CSI 300 Index	4968.03	0.5
Hang Seng Index	23166.1	(-)1.1
Nikkei 225 Day	71854.88	3.9
TOPIX FIRST SECTION	4016.61	1.3
KOSPI	8904.9	5.12
FTSE Singapore Strait Times	5217.99	0.04
S&P/ASX 200 Index	8781	(-)0.3

 

(Shruti Nair)

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Equity Alert: Indices may open higher as crude slumps to pre-Iran war levels

 

MUMBAI--0816 IST--Benchmark equity indices are seen opening higher, supported by further fall in crude oil prices on hope of easing supply disruptions amid increased movement of ships through the Strait of Hormuz. Early Thursday, the August futures contract of Brent Crude on the Intercontinental Exchange slumped to pre-Iran war levels and was at $72.4 per barrel at 0810 IST. 

 

"Indian equities are expected to regain their positive momentum, supported by renewed buying interest and lower energy prices," Siddhartha Khemka, head of research-wealth management at Motilal Oswal Financial Services, said in a note. Any further progress on geopolitical and trade-related fronts, coupled with stable energy prices could provide additional support for domestic equities, he said. 

 

The US and Iran have both signalled progress after initial discussions to end the war, although claims by the two sides have diverged at times and additional talks on topics such as nuclear issues and a ceasefire in Lebanon face hurdles. Early optimism on a lasting agreement has led to more tankers openly crossing the Strait of Hormuz with their satellite signals switched on, according to reports. A total of 14 oil tankers crossed the maritime chokepoint on Tuesday and 27 on Monday, The Wall Street Journal reported, citing data from ship-tracking firm Kpler. This marks a small rise from 37 tanker transits over the weekend and a recovery from roughly 12 tankers a day the week before.

 

In the latest development, Iran's Islamic Revolutionary Guard Corps warned that all vessels must follow designated Iranian shipping routes and coordinate with the Iranian navy before transiting the Strait of Hormuz, reports said. It said any new navigation route announced without Tehran's approval was "unacceptable and dangerous." Following this, US Energy Secretary Chris Wright said crude oil shipments through the Strait of Hormuz remain close to normal despite heightened regional tensions, with around 20 million barrels passing through the strategic waterway over the past 24 hours under military protection. 

 

Meanwhile, US Secretary of State Marco Rubio said Iran would not be able to charge toll in the Strait of Hormuz under any final deal with the US, with technical talks due to resume in Switzerland next week. Further, the United Nations nuclear agency said inspections at Iran's atomic sites are "going to happen", while a senior Iranian official insists it is contingent on the finalisation of an agreement with the US. 

 

The GIFT Nifty indicates a largely positive open for the domestic market. At 0801 IST, the June futures contract of the GIFT Nifty was at 24105, around 83 points higher than the Nifty 50's previous close of 24021.65 points. On Wednesday, the Nifty 50 index reclaimed the 24000 point mark, reinforcing the positive near-term bias for the index. Going forward, the index is likely to target the 24500 points level, while 24000 is expected to serve as immediate support, Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equities said. "Overall, the technical setup remains constructive, favouring a buy-on-dips approach as long as key support levels are sustained," he added.  (Arya S. Biju)

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Equity Alert: Most US futures rise; Micron Technology's Q3 results beat view

 

MUMBAI--0740 IST--Most US stock futures rose on Thursday as the quarterly results of semiconductor major Micron Technology led to gains in futures of chipmaking companies. Futures tied to the technology-heavy Nasdaq outperformed its peers and gained almost 2%, while S&P 500 futures rose 0.4%. Futures of the blue-chip Dow Jones Industrial Average were flat.

 

The three major indices ended mixed on Wednesday, amid sustained selling in stocks of semiconductor and adjacent businesses. Several analysts had expected the earnings of Micron Technology to miss estimates, thereby extending the rout seen in chip-making stocks over the past few sessions. The stock had shed over 13% in the past two sessions.

 

However, in the company's quarterly results released post market hours, the chipmaker's revenue more than quadrupled to $41.46 billion on year and surpassed the LSEG consensus view of $35.84 billion. Micron also guided for revenue of $50 billion for the current quarter, up from $11.3 billion a year earlier and more than the $43.58-billion forecast, according to a CNBC report. Following the release, the chipmaker's stock futures gained 15%.

 

Thursday, investors will also be watching out for the release of May's personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge. Economists polled by Dow Jones expect the headline index to rise 0.5% on a monthly basis, slightly higher than April's 0.4% gain, and 4.1% on a yearly basis, again more than the 3.8% on-year rise seen in April. 

 

Even excluding volatile food and energy prices, the core personal consumption expenditure is seen rising 0.3% on a monthly basis and 3.4% on a yearly basis. Both estimates are higher than April's respective core personal consumption expenditure readings of a 0.2% monthly and a 3.3% yearly rise. 

 

Following were the closing levels of major US indices on Wednesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	51666.84	0.4
NASDAQ Composite	25476.64	(-)0.4
S&P 500	7358.22	(-)0.1

 

(Shruti Nair)

 

US$1 = INR 94.67

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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