▲ Samsung Electronics and SK Hynix
Samsung Electronics finished regular trading down more than 2% on October 8, even after becoming the first South Korean company to surpass the 100 trillion won mark in quarterly operating profit.
On the Korea Composite Stock Price Index (KOSPI) market that day, Samsung Electronics closed down 2.42% from the previous session at 262,000 won.
Samsung Electronics started the session up 0.37% at 269,500 won, but quickly turned downward and expanded its losses during the session.
SK Hynix finished trading down 2.44% from the previous session at 1,681,000 won.
SK Hynix rose as high as 1,759,000 won, up 2.09% at one point during the session, but failed to sustain its momentum and turned downward.
SK Square's stock price also trended downward throughout the session, eventually closing down 8.06% from the previous session at 1,050,000 won.
Samsung Electronics announced in a preliminary earnings report that its consolidated operating profit for the third quarter of this year was 107.4 trillion won, a 782.5% increase compared to the same period last year.
This exceeded the market consensus of 105.7533 trillion won compiled by Yonhap Infomax by 1.6%.
This marks the first time a South Korean company has exceeded 100 trillion won in quarterly operating profit, and the operating profit margin reached an all-time high of 55.1%.
Overnight New York stock indices all closed lower as U.S. Treasury yields surged again, and the Philadelphia Semiconductor Index fell 1.15%.
The 10-year Treasury yield exceeded 5.36% during the session, reaching its highest level since 2002, and the 30-year yield also rose to the 5.73% range, marking its highest level in 24 years as well, which dampened investment sentiment for risky assets.
Taken together, while Samsung Electronics' strong earnings raised expectations for a booming semiconductor industry, sell-on pressure driven by the realization of favorable news and concerns related to interest rates appear to have weighed down the stock prices of large-cap semiconductor shares.
Lee Kyung-min, a researcher at Daishin Securities, said, "As investment sentiment retreated due to the sell-on effect of Samsung Electronics, SK Hynix, SK Square, and others declined together."
In addition, there are analyses in the market that stock prices struggled due to the impact of exchange-traded fund (ETF) rebalancing and options expiration on that day.
Meanwhile, in the main stock market, foreign investors and institutional investors net sold 1.9926 trillion won and 1.6656 trillion won, respectively.
Individual investors net bought 2.9008 trillion won.
In the KOSPI electrical and electronic sector, to which Samsung Electronics and SK Hynix belong, foreign investors and institutional investors showed a selling dominance of 1.5038 trillion won and 1.3013 trillion won, respectively.
Individual investors net bought 2.0593 trillion won, and other corporations showed a buying dominance of 743.6 billion won.
SK Hynix, SK Square, and Samsung Electronics ranked first through third in net selling by foreign investors that day.
Foreign investors net sold 853.6 billion won of SK Hynix, 353.9 billion won of SK Square, and an estimated 290.7 billion won of Samsung Electronics.
(Photo: Yonhap News)
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