[Click eStock] Samsung Electronics Hits 52-Week Low Despite Record Quarterly Sales for Third Consecutive Quarter

[Asia Economy Reporter Hwang Yoon-joo] Samsung Electronics recorded a 52-week low for the second consecutive day. Despite achieving record-high sales for the third consecutive quarter, it is showing a slight decline due to institutional selling pressure.

As of 9:55 AM on the 28th, Samsung Electronics is trading at 64,500 KRW, down 0.77% (500 KRW) from the previous day. Institutions sold shares worth 3.488 billion KRW during the session, pulling the stock price down. Foreign investors, who had been net sellers for 24 consecutive trading days, are buying shares worth 189 million KRW.

Before the market opened, Samsung Electronics announced that its sales for the first quarter of this year reached a record high of 77.7 trillion KRW. Operating profit also increased by 50.5% year-on-year to 14.12 trillion KRW.

Shortly after the market opened, the stock traded at 65,400 KRW, up 0.62% from the previous day, but soon turned downward and hit a new low. The intraday price fell below 65,000 KRW the previous day, marking a 52-week low.

Earlier, Yuanta Securities stated, "The recent weakness in Samsung Electronics' stock price is due to global macro issues and delays in foundry yield improvements," adding, "Attention should be paid to the outlook for a rebound in memory semiconductor prices, which is the biggest swing factor for the stock price."

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