[Featured Stock] Samsung Electronics Hits New High Again
[Asia Economy Reporter Song Hwajeong] Samsung Electronics continues its record-high rally.
As of 9:46 AM on the 20th, Samsung Electronics was trading at 62,100 KRW, up 1.31% (800 KRW) from the previous day. Early in the session, it rose to 62,300 KRW, setting a new record high again.
Samsung Electronics has been hitting all-time highs consecutively this year, rising 9.89% based on the closing price on the 17th. Foreign investors continue net buying of Samsung Electronics, driving the stock price up. Foreigners have purchased 682.5 billion KRW worth of Samsung Electronics this year, ranking it first in net buying.
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The stock price increase is driven by expectations of earnings recovery due to improvements in the semiconductor market. Park Yooak, a researcher at Kiwoom Securities, said, "There is a high possibility that semiconductor price increases in the first half of this year will exceed market expectations," adding, "Samsung Electronics' earnings consensus will be revised upward, leading to a corresponding rise in the stock price."
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