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Lee Jae-yong, chairman of Samsung Electronics (photo=Samsung Group) |
[Alpha Biz= Reporter Kim Jisun] Foreign investors have established a new record for selling Samsung Electronics shares for 26 consecutive trading days, with a total value of approximately 11.08 trillion won (about $8.4 billion) sold during this period.
As of the 16th, Samsung Electronics closed at 59,500 won, down 2.46% (1,500 won) from the previous trading day. Just two days after recovering the 60,000 won mark, the stock has fallen back into the 50,000 won range. The decline was significantly influenced by the disappointing third-quarter forecast from Dutch semiconductor equipment company ASML, which led to a widespread drop in U.S. semiconductor stocks. Following ASML's earnings shock, the Philadelphia Semiconductor Index plummeted by 5.3%.
Additionally, news that the U.S. government is considering export restrictions on artificial intelligence (AI) chips to certain countries due to security concerns has negatively impacted investor sentiment towards semiconductor stocks. On the same day, foreign investors sold a net 273.4 billion won worth of Samsung Electronics shares.
As foreign investors continued their selling spree for 26 trading days, their ownership stake in the company decreased from 56.07% to 53.21%. During this period, Samsung's stock price fell by over 20%, dropping from 74,400 won (the closing price on September 2).
Previously, foreign investors had engaged in net selling of Samsung Electronics shares for 25 consecutive trading days from March 25 to April 28, 2022, during which the ongoing Russia-Ukraine war disrupted global supply chains and caused inflation to surge.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
