[Special Stock] Naver Rises Over 4% on Foreign and Institutional Buying Pressure
[Asia Economy Reporter Hwang Yoon-joo] Naver is experiencing a rise of over 4% on the morning of the 8th, driven by simultaneous buying from foreigners and institutions.
As of 10:09 AM, Naver is trading at 176,500 KRW, up 4.44% (7,500 KRW) from the previous day. At this time, foreigners and institutions are net buying 13.9 billion KRW and 7 billion KRW respectively. Institutions have shown a 'buy' trend for three consecutive trading days since the 4th.
The third-quarter earnings announced the previous day, which met consensus expectations, are also positively influencing the stock price. Third-quarter revenue was 2.06 trillion KRW, a 19.1% increase compared to last year. Operating profit was 330.2 billion KRW, a 5.6% decrease, but it met securities firms' consensus.
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Ahn Jae-min, a researcher at NH Investment & Securities, evaluated, "Although the growth rates of the search platform and commerce are declining due to the economic slowdown, I see a higher possibility of recovery rather than further decline."
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