In summary, while foreign investors bought 7.8 trillion won, individual investors sold 9.3 trillion won. Buoyed by TSMC’s strong earnings, SK Hynix also reached an all-time high.
On the 16th, as the KOSPI index broke through the 3,740 mark, reaching a record high, the closing prices of Samsung Electronics and SK Hynix were displayed on the Korea Exchange’s electronic board in Yeouido, Seoul. On this day, Samsung Electronics closed at 97,700 won, up 2.84% from the previous trading day, and SK Hynix closed at 452,500 won, up 7.10%. This is from a news report by Kim Sung-jin of News1.
Samsung Electronics has reached a historic peak for the first time in five years. Despite a strong dollar, foreign investors continued to buy Samsung Electronics, driven by expectations of improved performance due to a surge in semiconductor demand spurred by artificial intelligence (AI).
According to the Korea Exchange on the 16th, Samsung Electronics closed at 97,700 won, up 2,700 won (2.84%) from the previous trading day. Both during the trading hours and at the close, this marks the highest price ever recorded.
Samsung Electronics surpassed its previous all-time high of 96,800 won recorded on January 11, 2021. Now, there are no investors experiencing losses from investing in Samsung Electronics.
Foreign buying pressure lifted Samsung Electronics’ stock price. On this day, foreigners purchased 561 billion won worth of Samsung Electronics on the Korea Exchange.
Since September 12, with the exception of one trading day, foreigners have been net buyers of Samsung Electronics. The cumulative net purchase amount during this period is 7.862 trillion won.
Typically, during a strong dollar phase, foreigners tend to sell domestic stocks anticipating exchange rate gains. However, confidence in semiconductor demand and performance has strengthened, leading to continued buying.
On October 14, after Samsung Electronics announced a surprise earnings report for the third quarter, global investment banks, such as Citi and Goldman Sachs, raised their target prices for Samsung Electronics to 120,000 won and 109,000 won, respectively.
Three factors, including the recovery of memory prices, increased demand for high-bandwidth memory (HBM), and improved profitability in the foundry and LSI sectors, have collectively contributed to the start of a mid-term earnings upcycle.
On the same day, TSMC announced that its operating profit for the third quarter reached 500.7 billion Taiwan dollars, up 38.8% year-on-year, achieving a record quarterly performance, which positively affected semiconductor stocks overall.
SK Hynix also set a record high, closing at 452,500 won, up 30,000 won (7.10%) from the previous day.
As Samsung Electronics rose, individual investors attempted to realize profits. While foreigners bought 7.862 trillion won worth of Samsung Electronics since September 12, individuals net sold 9.345 trillion won. During this period, Samsung Electronics’ stock price rose by 33.1%.