Foreigners net purchase of 100 billion units
“A strong influx of low-price purchases”
“Semiconductor uncertainty still remains”
photo = Yonhap News
Samsung Electronics, breaking new 52-week lows every day(67,400 +4.01%)has flew for a long time. This is due to the strong influx of foreign investors’ net buying for the first time in 28 trading days.
On the 29th, Samsung Electronics finished trading at 67,400 won, up 4.01 percent. Net buying by foreigners pushed up the stock price. On this day, foreigners bought Samsung Electronics worth about 101 billion won. It is the first time in 28 trading days since March 28 that a foreigner net bought Samsung Electronics.
Samsung Electronics broke its 52-week low 10 times this month. The sharp rise in the won-dollar exchange rate and concerns about a growing economic slowdown stimulated foreign selling. Foreigners net sold Samsung Electronics worth 3.525 trillion won from the 1st to the 28th. As of the 28th, the foreign ownership of Samsung Electronics stood at 50.93%, the lowest since November 2016.
As the stock price fell to the low 60,000 won range, it is analyzed that a low-priced buying trend has begun. Shinhan Asset Management’s Alpha Management Center Director Jeong Seong-han said, “It is estimated that investors who increased the scale of short selling as bad news piled up started short covering to liquidate their short positions. It is filling,” he explained. “Samsung Electronics will start a full-fledged rebound in the second half of the year when bad factors surrounding Samsung Electronics, such as inflation, blockade of major cities in China, and the war in Russia and Ukraine, disappear,” said Jung, head of the center.
Song Myung-seop, a researcher at Hi Investment & Securities, said, “Samsung Electronics’ short-term low is estimated to be 1.2 times (about 60,000 won), which is the average low of the historical price-to-earnings ratio (PBR). .
Although Samsung Electronics rebounded strongly on the same day, securities firms lowered their target price for Samsung Electronics all at once. Kim Dong-won, a researcher at KB Securities, said, “As concerns about the global economic slowdown grow, doubts that semiconductor demand may decrease in the second half of this year are not dispelled. It is true that the share price has fallen to its historical low level, but it means there is not much room for it to rise again.
Researcher Song said, “Until the leading economic indicators improve, the possibility of Samsung Electronics’ stock price exceeding the historical average multiple of 1.6x (PBR of 1.6x) is not high. It’s the right time to do it,” he said.
Reporter Shim Seong-mi/Lee Seul-gi smshim@hankyung.com
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