I thought Samsung Electronics’ stock price is going up a bit now… moderna cold water

Samsung Electronics due to the spread of fear about the newly discovered novel coronavirus infection (COVID-19) mutant virus ‘Omicron’(71,300 -1.38%)fell again to 71,000 won. This is the level before it began to gain momentum as the memory semiconductor industry is expected to recover.

According to the Korea Exchange on the 30th, Samsung Electronics finished trading at 71,300 won, down 1,000 won (1.38%) from the previous day.

The atmosphere wasn’t bad until the beginning of the day. It was the influence of US President Joe Biden’s determination to overcome the omicron mutation last night, saying that it was “a matter of concern, not a subject of fear.” As a result, Samsung Electronics also rose to 73,900 won immediately after opening, and the KOSPI also showed an upward trend.

Stefan Banssel, CEO of vaccine developer Moderna, has sent cold water to the stock market when it became known that existing vaccines against the omicron mutation would be ineffective. “The high number of mutations in the spike protein of the virus that infects human cells means that existing vaccines may need to be improved,” said Bangsel, according to Reuters. Earlier, in an interview with another media outlet, he predicted that “it will take several months before a vaccine against a specific mutation called Omicron is ready to be mass-produced and supplied.”

As a result, Samsung Electronics also plummeted again, falling to 7,500 won, but recovered some. The daily fluctuation range reached 4.70%.

Institutions and individuals concentrated on selling Samsung Electronics. As of 2:30 pm on the same day, foreigners bought 105.993 billion won worth of Samsung Electronics shares, and institutions sold 35.965 billion won worth of shares. Individuals seem to have net sold about 70 billion won worth.

Samsung Electronics was building up expectations for a rebound before fears arose about the spread of the Omicron mutant virus. On the 18th (local time), analysis by foreign financial companies that the memory semiconductor industry would bottom out and recover soon came out.

Morgan Stanley said, “Although memory semiconductor prices are weak, the price in the fourth quarter is less bad than analysts expected.” said.

Investment advisory firm Evercore ISI predicted that DRAM semiconductor prices would recover in the second quarter of next year, and Citigroup analyzed that the DRAM price adjustment has entered the final stage. As a result, Micron surged 7.80% on the New York Stock Exchange on the 19th.

Subsequently, in the Korean stock market that opened on the 22nd (Korean time), the semiconductor industry, including Samsung Electronics, showed a sharp rise. In addition to the prospects for the recovery of the memory semiconductor industry, analysts from stock markets said that if the metaverse devices spread, there would be new demand for memory semiconductors, which added strength to the uptrend.

However, from the 24th, a portion of the increase was returned as a profit-taking sale came out, and the rest of the increase also disappeared due to the fear of Omicron.

By Han Kyung-woo, reporter at Hankyung.com case@hankyung.com

ⓒ Hankyung.com, unauthorized reprinting and redistribution prohibited