Samsung Electronics reported better-than-expected third-quarter results, but the KOSPI index opened lower due to foreign selling pressure. Samsung’s stock initially rose in pre-market trading but turned bearish during regular hours. This shift is attributed to market focus moving from immediate strong performance to concerns about long-term profit sustainability beyond next year.
As of 9:18 a.m. (KST) on Thursday, the KOSPI index was down 50.44 points (0.74%) at 6,753.46.
Individual investors were net buyers of 348.5 billion KRW (about 259 million USD), while institutions and foreign investors were net sellers of 92.5 billion KRW (about 69 million USD) and 284.3 billion KRW (about 211 million USD), respectively. Foreign investors continued their selling streak for the third consecutive trading day. In the KOSPI200 futures market, foreign investors were also net sellers of 260 billion KRW (about 193 million USD).
Samsung Electronics announced that its consolidated operating profit for the third quarter of this year was estimated at 10.74 trillion KRW (about 8 billion USD), a massive 782.5% increase year-over-year, slightly surpassing the market consensus of 10.6 trillion KRW (about 7.9 billion USD).
Following the earnings announcement, Samsung’s stock rose over 1% in pre-market trading but was down 0.56% during regular hours.
Han Ji-young, an analyst at Kiwoom Securities, noted that despite Micron’s strong performance, its stock price gains have been limited. Similarly, positive news like September’s semiconductor export surprise hasn’t significantly boosted stock prices for Samsung Electronics and SK Hynix.
Han added that this trend reflects shifting market expectations for semiconductor stocks, with investors now prioritizing long-term profit sustainability over concerns about current market conditions.
Among the top 10 KOSPI stocks by market cap, LG Energy Solution rose 3.71% and SK Hynix gained 0.41%. Decliners included Hyundai Motor down 2.83%, Samsung Biologics down 2.74%, SK Square down 2.36%, Samsung Life Insurance down 1.96%, Samsung Electro-Mechanics down 0.75%, KB Financial down 0.71%, Samsung Electronics down 0.56%, and Samsung Electronics Preferred down 0.33%.
At the same time, the KOSDAQ index fell 13.95 points (1.55%) to 884.48. After breaking the 900-point mark on Tuesday, buoyed by strength in semiconductor materials, parts, and equipment stocks, the index has weakened for two consecutive trading days.
In the KOSDAQ market, individual investors were net buyers of 104.2 billion KRW (about 77.5 million USD), while institutions and foreign investors were net sellers of 15.8 billion KRW (about 11.8 million USD) and 89 billion KRW (about 66.2 million USD), respectively.
Among the top 10 KOSDAQ stocks by market cap, gainers included EcoPro BM up 2.25%, Jusung Engineering up 1.62%, Simtech up 1.35%, IO Technics up 0.58%, EcoPro up 0.54%, and Wonik IPS up 0.23%. Decliners were Alteogen down 7.2%, Rainbow Robotics down 2.01%, HLB down 0.76%, and Rino Co., Ltd. down 0.12%.
U.S. stock index futures were trading in a narrow range. Nasdaq 100 futures remained flat, while S&P 500 futures edged down 0.04%.