Samsung Electronics, South Korea's largest chipmaker, has seen its market capitalization fall by $66.6 billion since early September 2024, largely due to a wave of continued selling by foreign investors.
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| Samsung Electronics, South Korea's largest chipmaker, has seen its market capitalization fall by $66.6 billion since the start of September 2024. (Source: Barrons) |
Foreign investors continued to sell Samsung Electronics shares on October 18, setting a record for the longest net selling period.
According to statistics from Korea Exchange, Samsung Electronics closed the trading session on October 18 at 59,200 won (43.2 USD)/share, down 0.84% compared to the previous trading session.
After breaking the psychological barrier of 60,000 won per share on October 16, Samsung Electronics' stock price continued to weaken.
Also in the trading session on October 18, foreign investors sold about 170 billion won worth of Samsung Electronics shares, continuing the 28-day net selling streak since September 3. This is the longest net selling record in history. The net selling volume during this period amounted to about 11,540 billion won.
South Korea's KOSPI stock index was hit by a decline in Samsung Electronics, the company with the largest market capitalization. The KOSPI closed at 2,593.82 points, down 15.48 points, or 0.59 percent, despite positive signals from the US stock market the day before.
Samsung Electronics, South Korea's largest chipmaker, has seen its market capitalization fall by 90 trillion won ($66.6 billion) since early September 2024, largely due to a wave of selling by foreign investors.
Foreign investors sold a net 10.6 trillion won ($7.8 billion) of Samsung Electronics shares last month, according to the Korea Exchange on October 13.
During this period, Samsung's stock price fell 20.3% from 74,400 won to 59,300 won, far exceeding the average 2.9% decline of the KOSPI market.
Analysis shows that the reason for this situation is due to the company's clearly weakened competitiveness and decreased investor confidence.
Chae Min-sook, a researcher at Korea Investment & Securities, said that Samsung Electronics is currently lagging behind all its competitors in the memory chip and semiconductor sectors. And it seems that improving its position cannot be resolved in the short term.
Samsung Electronics' future stock price outlook is not very bright.
“Samsung Electronics’ current share price can be considered a historic low. However, there is no momentum to increase the share price at the moment. Even if the plan to ensure competitiveness is launched, it may take time to help improve the share price,” said an analyst at a securities company.
Source: https://baoquocte.vn/foreign-investors-sell-samsung-electronics-stocks-290685.html
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