[Special Stock] Samsung Electronics Sees Widened Decline Amid Foreign and Institutional 'Sell-Off'

Falling by Over 2%, New 52-Week Low Recorded in the Afternoon

Samsung Electronics is showing an expanding decline in the afternoon session. This is interpreted as investor sentiment weakening due to analysis that the third-quarter earnings forecast will fall short of consensus.

As of 2:26 PM, Samsung Electronics is trading at 64,300 KRW, down 2.87% (1,900 KRW) from the previous day. The stock started the day at 65,100 KRW and is currently hitting new lows.

As of 2:16 PM, foreign investors and institutions are net selling 108.4 billion KRW and 25.1 billion KRW, respectively. The dual selling pressure from foreign and institutional investors is causing the stock price to slump.

On the same day, Korea Investment & Securities also lowered its target price by 30%, from 120,000 KRW to 96,000 KRW. Chaemin Sook, a researcher at Korea Investment & Securities, analyzed, "The estimated third-quarter revenue is 79.3 trillion KRW and operating profit is 10.3 trillion KRW, which are 5% and 23% below the consensus (revenue 83.3 trillion KRW, operating profit 13.3 trillion KRW), respectively."

Earlier, DB Financial Investment, KB Securities, and Hyundai Motor Securities also lowered their target prices for Samsung Electronics.