Samsung Electronics shares fall as much as 7%
Samsung Electronics7 day2quarter earnings surprise, but its share price fell as much as 7% in early trading, while the KOSPI fell more than 2% at the opening and broke below the 8000line. LG Electronics posted an earnings surprise with operating profit of 2quarter 1trillion 5,788billion won.
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Samsung Electronics7 day 2quarter results, announcing an earnings surprise. The company said it posted record quarterly results that day.
Samsung Electronics shares fell as much as 7% during the session. Some securities industry tallies showed a period in which the decline reached the 6% range.
Market observers said the reaction was a case of “buy the rumor, sell the news.” It was also pointed out that profit-taking sell orders emerged after expectations had already been priced in.
The KOSPI fell by 2% in early trading, and during the session the 8000line collapsed. A period of increased trading volume compared with usual levels was observed alongside the sharp intraday drop.
LG Electronics' 2quarter operating profit was 1trillion 5,788hundred million won, marking an earnings surprise. The company disclosed the figure in its earnings release.
Past cases were also confirmed. Among the recent 16earnings surprises, there were 10cases in which the share price fell on the announcement date.
Immediately after the latest earnings announcement, selling activity by foreign investors and institutions was observed. Individual investors were reportedly watching trading quotes and execution speed closely.