Samsung Electronics rose more than 7%… Undisclosed information may be leaked?
- On the 15th, Samsung Electronics’ stock price experienced a significant increase after the company announced plans to buy back treasury stocks worth 10 trillion won.
- Prior to this announcement, Samsung's stock had been on a downward trajectory, closing at 49,900 won on the 14th, the lowest in over four years.
- On the morning of the 15th, as buying pressure increased, the stock price rose by about 3% throughout the day.
Samsung Electronics‘ Stock Surge Amid Share Buyback News
On the 15th, Samsung Electronics’ stock price experienced a significant increase after the company announced plans to buy back treasury stocks worth 10 trillion won. This announcement came as the stock price climbed 7.21% from the previous trading day, reaching 53,500 won.
Prior to this announcement, Samsung’s stock had been on a downward trajectory, closing at 49,900 won on the 14th, the lowest in over four years. The stock had fallen for five consecutive days, reflecting uncertainty in the semiconductor industry.
On the morning of the 15th, as buying pressure increased, the stock price rose by about 3% throughout the day. The peak increase reached over 8% without any major news before the announcement.
The stock buyback plan includes an immediate purchase of 3 trillion won worth of stocks, with the remaining 7 trillion to be discussed later. The buyback is seen as a measure to enhance shareholder returns.
On the same day, foreign investors heavily bought Samsung Electronics shares. Foreign purchases totaled 127.9 billion won, while domestic individual investors sold about 205.66 billion won. Institutions, including Merrill Lynch, NH Investments, and Citi, were among the largest net buyers.
Market analysts are concerned about the possibility of leaked information before the buyback announcement. This suspicion arose from the significant increase in foreign net purchases on the 15th, contrasting with their previous pattern of net selling throughout the week.
One insider noted that the information about the buyback may have been disclosed improperly, which could violate the Capital Markets Act. As the semiconductor market is under scrutiny, the actions of foreign investors and the subsequent stock price surge are being closely monitored.