Anna Jiwon Park has been covering the politics at The Korea Times since the summer of 2024, when she joined the press pool for the Office of the President in Korea. Prior to that, she spent about five years reporting extensively on financial markets, regulatory authorities and the financial industry. She joined The Korea Times in 2019 after spending eight years as a broadcast journalist at Arirang TV, Korea’s leading global broadcaster, covering politics, defense and culture.
Samsung Electronics' stock price hits 52-week low
By Anna J. Park
By Anna J. Park
Samsung Electronics' stock price renewed its 52-week record low on Friday, finishing at 63,800 won ($50.30), a 2.15 percent fall from the previous session.
Friday's fall is attributed to weakened investor sentiment in the global semiconductor sector, as shown in the 2.69 percent overnight fall of the PHLX Semiconductor Sector Index in the U.S. market. The growing concern over a global economic recession as well as the resumption of lockdowns in China also affected the stock price's plunge.
Foreign investors and institutional investors led Friday's fall, as they net-sold 586 billion won and 76.3 billion won worth of shares, respectively.
The global semiconductor chip manufacturer's stock price has been on a downward movement since the start of this year. This year alone, the stock price lost over 13 percent of its value, from 78,600 won logged at closing on Jan. 3, the first trading session of this year. The declining trend is due mainly to the market's concern over the reduced demand for chips amid global recession concerns.
“Business-to-consumer demand for personal computers, smartphones and electric devices has slowed down. The stock price of Samsung Electronics has even reflected the market's concern over a slowdown in business-to-business demand as well,” said Choi Do-yeon, an analyst at Shinhan Financial Investment.