[Featured Stock] 'Leader' Samsung Electronics Rebounds... Up 8.9% Compared to Previous Day

[Asia Economy Reporter Minwoo Lee] The stock price of Samsung Electronics, the top company by market capitalization in South Korea, is showing strong performance.

According to the Korea Exchange on the 24th, as of 11:19 AM, Samsung Electronics' stock price rose 8.94% from the previous day to 46,300 KRW. This is in stark contrast to the previous day when it had fallen more than 6% to the 42,000 KRW range.

Despite securities firms collectively lowering their target prices, the stock price is rising and leading the KOSPI index's upward trend. Including Hyundai Motor Securities, which adjusted its target price from 71,000 KRW to 64,000 KRW today, about five securities firms have lowered Samsung Electronics' target price this month. This is the first time in a year since March last year that Samsung Electronics' target price has been revised downward.

Meanwhile, foreign investors, who had been continuously selling in the KOSPI market, have turned to net buying. As of 11:40 AM, they are net buying 12.2 billion KRW. Previously, foreign investors had sold more than 9 trillion KRW over 13 consecutive days of net selling.