Samsung, SK hynix near end of buybacks, leaving KOSPI without clear buyer
4 Articles
4 Articles
Driven by improved investor sentiment toward artificial intelligence and strong September export performance, the KOSPI recovered the 7,000 mark on a closing basis for the first time in ten days. However, with the share buybacks by Samsung Electronics and SK Hynix—which had propped up the KOSPI despite foreign selling—expected to conclude soon, future foreign supply and demand will determine the direction of the stock market.
Samsung Electronics and SK Hynix's share buybacks are expected to conclude in the middle of next month, earlier than the originally scheduled end date of November. Concerns are rising that downward pressure on the stock market will intensify as the buybacks by the nation's top two companies end sooner than expected. According to the electronic disclosure system on the 20th, Samsung Electronics has purchased 39.8 million shares since the 24th of …
(Seoul = Yonhap News) Reporter Lim Eun-jin = Samsung Electronics [005930] and SK Hynix [000660], which have effectively served as pillars against downward pressure on the stock market...
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