[Featured Stock] LG Electronics Approaches '100,000 Won' Break... Drops Over 5%

[Asia Economy Reporter Ji Yeon-jin] On the 19th, LG Electronics fell to an intraday low as its Q2 earnings outlook weakened and foreign selling intensified. Among shareholders, there are concerns that even the "100,000 won" level might collapse.

At 10:59 AM on the same day, LG Electronics was trading at 101,500 won, down 5.14% from the previous day. This is a 52-week low.

Foreign investors, who have been selling for four consecutive days since the 16th, sold 123,565 shares on this day. Institutions also reversed to selling from the previous day, offloading 46,000 shares.

Earlier, KB Securities forecasted on the 3rd that LG Electronics' Q2 earnings would be somewhat weaker than market consensus due to declining profitability in the Home Appliance (H&A) and TV (HE) businesses. On a consolidated basis, LG Electronics' Q2 revenue was expected to be 20 trillion won, down 5.5% from the previous quarter, with operating profit forecasted to drop 54.3% to 859.7 billion won during the period.