Seoul Stocks Down 3% Late Thursday Morning After Weaker-than-Expected Samsung Earnings
19 Articles
19 Articles
Global Market: South Korean shares fall 2% as Samsung Electronics slides after earnings
South Korea’s KOSPI fell 2.18% on Thursday as Samsung Electronics dropped 4.13% after disappointing third-quarter profits. Losses extended across battery, automotive and steel stocks, despite foreign investor buying. Authorities pledged to monitor volatility. Meanwhile, the won strengthened 0.72%, and government bond yields declined amid market uncertainty and cautious investor sentiment.
(Seoul = Yonhap News) Reporter Kim Yu-hyang = The KOSPI entered a downward trend during trading on the 29th following the announcement of Samsung Electronics' [005930] detailed third-quarter earnings.
Samsung Electronics announced during its Q3 2026 earnings conference call on the 29th that DRAM prices rose by approximately 20% and NAND flash prices by the high teens, driven primarily by server products. Samsung explained that strong demand related to artificial intelligence (AI) in the third quarter led to a significant increase in demand for AI infrastructure products, such as High Bandwidth Memory (HBM) and server Solid State Drives (SSDs)…
The worldwide demand for chips needed for artificial intelligence has led to a significant increase in the net profit of Samsung Electronics, which increased six times in the third quarter, reaching 50 billion euros, announced Thursday South Korean giant, according to AFP, quoted by hotnews.ro.
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