Samsung Electronics hits 52-week low as foreigners dump shares

(Kim Ho-young)

Samsung Electronics Co.’s stock fell to the 57,000 won ($41.28) range on Tuesday, setting a new 52-week low amid broader weakness in South Korea’s stock market.

Shares of Samsung Electronics closed at 57,700 won on Tuesday, down 2.2 percent from the previous day. This marks the second consecutive day the stock has hit a 52-week low, falling to levels not seen since January 2023.

The sell-off was driven by both foreign and institutional investors, with foreigners dumping about 280 billion won worth of shares. This extended their record streak to 30 consecutive trading days of net selling.

Institutions also sold 150 billion won worth of Samsung Electronics shares, maintaining their net selling position for a third straight day.

While foreign investors have been a major force behind the stock’s downward trend, the pace of the decline has moderated in October compared to steeper drops in August and September.

Analysts note that Samsung’s stock has shown greater resilience in recent weeks, even as foreign outflows continue.

So far in October, foreign investors have sold 3.15 trillion won worth of Samsung shares, resulting in a 6.18 percent decline in the stock’s value. On average, every 1 trillion won sold this month has led to a 1.96 percent drop in the share price.

In comparison, foreign investors offloaded 2.08 trillion won worth of shares in August, causing Samsung’s stock to plunge 11.44 percent, or 5.5 percent per trillion won sold.

The selling pressure in September was even more severe, with 8.63 trillion won in foreign outflows driving a 17.23 percent decline, though the impact per trillion won had eased to around 2 percent.