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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Sangjin] Despite Samsung Electronics' announcement of a 10 trillion won share buyback, foreign investors net sold the stock, while individual investors bought 3.2 million shares, driving the stock price higher.
On the 18th, Samsung Electronics' stock, which had surged by over 7% at one point, ended up rising by 5.98%, closing at 56,700 won. While foreign investors were net buyers of Samsung Electronics early in the day, they switched to net sellers in the afternoon. Foreign investors sold 160 billion won worth of shares, and institutional investors sold 30.9 billion won worth.
While the share buyback was seen as a positive in terms of supply and demand, investor concerns remain significant until Samsung Electronics can demonstrate a recovery in its core competitiveness and a rebound in market conditions.
On the same day, foreign investors net sold Samsung Electronics and SK Hynix, with a total net sale of 75.3 billion won on the KOSPI. However, they net bought 181.9 billion won in futures. As a result, the KOSPI closed at 2,469.07, up 2.16% due to Samsung Electronics' rise.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
