Semiconductor Market Expected to Pick up
As Samsung Electronics Co. is expected to post higher earnings than market expectations in the third quarter and the semiconductor market will pick up, the price of the company’s shares hit a 52-week high on Oct. 14 and surpassed 50,000 won (US$42.15) for the first time in a year and four months.
Samsung Electronics’ shares were traded at 50,100 won (US$42.25) on the main KOSPI market as of 9:13 a.m., up 950 won (US$0.80), or 1.93 percent, from the previous trading day.
The figure once increased to 50,300 won (US$42.42) in intra-day trading, reaching a new 52-week high. Samsung Electronics saw its stock price rise, driven by its better performance than market forecasts in the third quarter and the upward trend in the semiconductor market.
This is the first time for the price of Samsung Electronics’ shares to exceed 50,000 won (US$42.15) in intra-day trading after it recorded 50,300 won on June 11 last year.