[Market Focus] Samsung Electronics Narrows Gains Despite Q3 Earnings Surprise as Profit-Taking Emerges

Samsung Electronics hit a new yearly high following a third-quarter earnings surprise, but has since given up some of its gains. This is interpreted as profit-taking by investors due to fatigue from the recent rally.

As of 10:46 a.m. on October 14, Samsung Electronics was trading at 93,500 won, up 200 won (0.21%) from the previous trading day.

Samsung Electronics opened at 95,000 won, up 0.42% from the previous session, and climbed to 96,000 won, marking a new yearly high. Earlier, in the NextTrade alternative trading platform's pre-market session, the stock even reached the 97,000 won range, setting an all-time high. However, as profit-taking occurred, the stock reversed course and fell to 92,800 won, down 0.54% from the previous trading day.

This year, Samsung Electronics has shown a steady upward trend. On a monthly basis, it rose by 1.26% in May, 6.41% in June, and 19.40% in July. Last month, the stock surged by more than 20%. The lowest intraday price of the year was 50,800 won, recorded on February 3.

On this day, Samsung Electronics announced through a public filing that its consolidated operating profit for the third quarter reached 12.1 trillion won, up 31.81% from the same period last year. Revenue rose by 8.72% to 86 trillion won. This operating profit figure also exceeded analysts' forecasts by 17.4%.