[Special Stock] Samsung Electronics Hits 52-Week Low for 4 Consecutive Trading Days

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[Asia Economy Reporter Kwon Jae-hee] Samsung Electronics has recorded a new 52-week low for four consecutive trading days.

As of 2:30 PM on the 12th, Samsung Electronics is trading at 67,200 KRW, down 1.03% from the previous trading day.

On this day, Samsung Electronics briefly fell to 67,000 KRW during trading hours, setting a new 52-week low.

Previously, on the 7th and 8th, Samsung Electronics closed at 68,000 KRW and 67,800 KRW respectively. The day before, it also recorded a 52-week low by falling to 67,400 KRW during trading hours.

Samsung Electronics has thus set a new 52-week low for four consecutive trading days.

The sluggish stock price of Samsung Electronics is attributed to the decline in the U.S. New York stock market overnight due to concerns over economic slowdown and tightening.

On the 11th (local time), the Dow Jones Industrial Average closed down 1.12%, the Standard & Poor's (S&P) 500 fell 1.68%, and the Nasdaq dropped 2.27% compared to the previous session.

With rising government bond yields, weakness was prominent mainly among technology and growth stocks. Nvidia fell 5.2%, Tesla 4.83%, Microsoft 3.94%, AMD 3.59%, and Apple 2.55%.

Earlier, Samsung Electronics announced that its preliminary first-quarter results achieved record-high quarterly performance with sales of 77 trillion KRW and operating profit of 14.1 trillion KRW.

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