Seoul stocks close over 3% lower amid Samsung s shareholder return plan
24 -- Seoul stocks closed sharply lower Monday as disappointment over Samsung Electronics' shareholder return plan triggered a sell-off in semiconductors.
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Summary
24 (Yonhap) -- Seoul stocks closed sharply lower Monday as disappointment over Samsung Electronics' shareholder return plan triggered a sell-off in semiconductors. The US saw the strongest growth in its service sector in nearly two years in August, with the Purchasing Managers' Index for the month, published by S P Global on Friday, rising to 56.8. (Yonhap). "The KOSPI was weighed down by disappointment over Samsung Electronics' shareholder return plan announced last week, with other Samsung affiliates losing ground," Lee Kyoung-min, an analyst from Daishin Securities, said.
Furthermore, Despite the massive sum involved, investors seemed to have been let down as the company failed to provide details on a possible stock buyback, the analyst added. Investors are keeping an eye on other external factors, such as the upcoming earnings release from chip giant Nvidia and the latest economic reading from the United States. After opening lower, the index extended losses as large-cap tech shares came under selling pressure from foreign and institutional investors, which offloaded a combined net 4.97 trillion won.
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24 (Yonhap) -- Seoul stocks closed sharply lower Monday as disappointment over Samsung Electronics' shareholder return plan triggered a sell-off in semiconductors.
reliability moderate2/2 sourcesThe US saw the strongest growth in its service sector in nearly two years in August, with the Purchasing Managers' Index for the month, published by S P Global on Friday, rising to 56.8. (Yonhap)
reliability moderate2/2 sources"The KOSPI was weighed down by disappointment over Samsung Electronics' shareholder return plan announced last week, with other Samsung affiliates losing ground," Lee Kyoung-min, an analyst from Daishin Securities, said.
reliability moderate2/2 sourcesDespite the massive sum involved, investors seemed to have been let down as the company failed to provide details on a possible stock buyback, the analyst added.
reliability moderate2/2 sourcesInvestors are keeping an eye on other external factors, such as the upcoming earnings release from chip giant Nvidia and the latest economic reading from the United States.
reliability moderate2/2 sources
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After opening lower, the index extended losses as large-cap tech shares came under selling pressure from foreign and institutional investors, which offloaded a combined net 4.97 trillion won.
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