[Featured Stock] Samsung Electronics Falls Below 70,000 Won... SK Hynix Drops Over 2%

Samsung Electronics announced on the 8th that it recorded sales of 73 trillion won and an operating profit of 15.7 trillion won in the third quarter. This is the first time quarterly sales have exceeded 70 trillion won. On this day, the Samsung flag was fluttering in the wind in front of Samsung Electronics' Seocho building. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Minji Lee] Samsung Electronics fell below the 70,000 won mark during the trading session due to net selling by foreigners. SK Hynix, the second largest by market capitalization, is also showing a decline of over 2%.

As of 9:24 a.m. on the 12th, Samsung Electronics is trading at 69,400 won, down 2.94% from the previous trading day. SK Hynix is down 1.91% at 92,200 won. The sharp decline in stock prices is analyzed to be due to net selling by foreigners in the domestic stock market.

Foreign investors have sold the most of Samsung Electronics and SK Hynix this month, with net sales of 517.7 billion won and 106.2 billion won, respectively. Kyungmin Kim, a researcher at Hana Financial Investment, said, “In the case of the Philadelphia Semiconductor Index in the U.S., the rise in the 10-year U.S. Treasury yield negatively affected investor sentiment,” adding, “After Micron, a memory semiconductor supplier, announced its earnings, the production growth limit caused by supply bottlenecks is analyzed to have adversely affected the stock prices of domestic semiconductor companies with a high proportion of memory semiconductors.”

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