[Featured Stock] SK Telecom Shows Strength Amid KOSPI Plunge... Foreign Investors Buying Pressure

[Asia Economy Reporter Ji Yeon-jin] On the 9th, while the domestic stock market sharply declined due to concerns over the 4th wave of COVID-19, SK Telecom is showing an upward trend.

As of 10:24 AM on the same day, SK Telecom was trading at 321,500 KRW, up 1.26% (4,000 KRW) compared to the previous day. Foreign investors are driving the stock price increase by net buying over 90,000 shares.

This appears to reflect expectations that the value of subsidiaries will be highlighted following the shift to untact services and the split due to the 4th wave of COVID-19.

Earlier, SK Securities stated, "We expect the second-quarter earnings this year to meet market expectations due to strong MNO performance and stabilized marketing," adding, "A subscription service is scheduled to be launched in the second half of the year, which is expected to offer various SK Telecom services such as e-commerce, cloud, OTT, and music streaming. The subscription service raises expectations as it can create synergy between the telecommunications sector and the new ICT sector."

They continued, "Also, since the value of subsidiaries is expected to be fully recognized after the split, we believe purchasing before the split is suitable for maximizing returns."

This content was produced with the assistance of AI translation services.