Samsung Electronics 89shares fall despite operating-profit announcement30ten-thousand-won level breached
Samsung Electronics 2·4despite announcing provisional quarterly operating profit of 89trillion4,000, its share price fell 7on the day by 6.92% to close at 29ten-thousand6,000won. The KOSPI even triggered a circuit breaker during the session amid foreign selling.
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Samsung Electronics 7before the market opened on the day, 2·4announced provisional quarterly results, reporting operating profit of 89trillion4,000. On the same day, its share price fell to 7ten-thousand won at the close of trading on the day 29ten-thousand6,000won.
During the session, 28ten-thousand6,000won, widening the decline. According to the figures released, the maximum intraday decline was 9.75%.
At 10a.m.23, a sell-sidecar was triggered. From 1p.m.51minutes33and seconds onward, 20a circuit breaker was triggered for minutes, halting trading.
According to the Korea Exchange, at the same time that morning, 10 a.m.25 minutes, the KOSPI stood at 7,668.47, down 4.74%. The index opened at 7,919.20 early in the session and gave up the 8,000 level.
Foreign investors were net sellers of 1 trillion1,773 won, extending their selling streak to 13 consecutive trading days. Institutions were net sellers of 2,654 billion won, while retail investors were net buyers of 1 trillion4,242 billion won.
Market consensus was set at 84 trillion1,606 billion won. Samsung Electronics' preliminary figure was disclosed at a level higher than this amount.
Some securities firms attributed the sharp decline to psychological factors and advised investors not to be shaken. The day marked the sixth circuit-breaker activation in the KOSPI this year.
Sources: 파이낸셜뉴스 증권
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