이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Foreign, institutional players dump Samsung Elec, buy Samsung C&T
- Collected
- 2016.10.17
- Distributed
- 2016.10.18
- Source
- Go Direct
Foreign and institutional investors dumped Samsung Electronics Co. since mid-September after its newest smartphone innovation Galaxy Note7 was shunned by global regulators and users on concerns of explosion and are now vying for shares in Samsung C&T, the de facto holding company for Samsung Group.
According to Korea-based market data provider FnGuide on Sunday, foreign investors have unloaded 659.2 billion won ($579 million) worth of Samsung Electronics shares until October 13 since September 12 when a number of countries around the world began to advise users against using Galaxy Note 7 due to the risk of the phone catching fire. The figure more than tripled the second biggest target LG Chem with foreign net sales worth 202.3 billion won.
Local institutional investors followed suit and net sold 166.9 billion won worth of the market bellwether’s stocks over the same period. Samsung Electronics’ shares were the second biggest stocks they have net sold, following 202.8 billion won worth of Hanmi Pharmaceutical Co. that has been under financial authorities` investigation over the delayed announcement of an exclusive license-out agreement and insider trading allegation.
Shifting away from the tech behemoth’s stocks, offshore investors and local institutional investors have flocked to add 178.8 billion won and 133.4 billion won worth of Samsung C&T stocks, respectively, over the same period. Foreigners also heavily picked up 159.1 billion won of Hyundai Motor Co. and 115.1 billion won worth of NCsoft Corp., while local institutional investors who bet on a fall in the country’s benchmark Kospi index following the market heavyweight Samsung Electronics’ stock rout purchased 283.9 billion won worth of KODEX Inverse ETFs, the product that allows investors to make profits when the market turns bearish.
Both foreign and institutional investors’ demand for Samsung C&T have strengthened after Samsung Electronics’ shareholder and U.S. activist investor Elliot Management Corp. early this month proposed the company to restructure and simplify its operation by splitting up into separate holding and business entities, as well as consider an equity merger between the new holding company and Samsung C&T, raising hopes that the group’s construction and trading arm would play a key role in reorganizing the governance structure of the country’s largest conglomerate.
As of 2:18 p.m., Samsung Electronics shares were up 1.1 percent to 1,594,000 won from the previous session and Samsung C&T shares were flat at 163,500 won.
According to Korea-based market data provider FnGuide on Sunday, foreign investors have unloaded 659.2 billion won ($579 million) worth of Samsung Electronics shares until October 13 since September 12 when a number of countries around the world began to advise users against using Galaxy Note 7 due to the risk of the phone catching fire. The figure more than tripled the second biggest target LG Chem with foreign net sales worth 202.3 billion won.
Local institutional investors followed suit and net sold 166.9 billion won worth of the market bellwether’s stocks over the same period. Samsung Electronics’ shares were the second biggest stocks they have net sold, following 202.8 billion won worth of Hanmi Pharmaceutical Co. that has been under financial authorities` investigation over the delayed announcement of an exclusive license-out agreement and insider trading allegation.
Shifting away from the tech behemoth’s stocks, offshore investors and local institutional investors have flocked to add 178.8 billion won and 133.4 billion won worth of Samsung C&T stocks, respectively, over the same period. Foreigners also heavily picked up 159.1 billion won of Hyundai Motor Co. and 115.1 billion won worth of NCsoft Corp., while local institutional investors who bet on a fall in the country’s benchmark Kospi index following the market heavyweight Samsung Electronics’ stock rout purchased 283.9 billion won worth of KODEX Inverse ETFs, the product that allows investors to make profits when the market turns bearish.
Both foreign and institutional investors’ demand for Samsung C&T have strengthened after Samsung Electronics’ shareholder and U.S. activist investor Elliot Management Corp. early this month proposed the company to restructure and simplify its operation by splitting up into separate holding and business entities, as well as consider an equity merger between the new holding company and Samsung C&T, raising hopes that the group’s construction and trading arm would play a key role in reorganizing the governance structure of the country’s largest conglomerate.
As of 2:18 p.m., Samsung Electronics shares were up 1.1 percent to 1,594,000 won from the previous session and Samsung C&T shares were flat at 163,500 won.
By Yong Hwan-jin
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]