Despite Samsung Electronics’ record-breaking results, KOSPI tests the 6,700 level... “Future earnings are what matter” [fn Morning Market Update]

[Financial News] Market reaction has been cool despite Samsung Electronics posting record results. The market appears to have adopted a wait-and-see stance for now as it gauges the medium- to long-term industry outlook.
According to the Korea Exchange, the KOSPI was trading at 6,787.64 on the 8th, down 16.26 points (0.24%) from the previous session. It opened at 6,808.68, up 4.78 points (0.07%) from the previous trading session, before turning lower early in the session.
On the main board, individual investors and other corporations were net buyers of 746.4 billion won and 266.3 billion won, respectively. Foreign investors and institutions were net sellers of 672.1 billion won and 339.3 billion won, respectively.
Samsung Electronics announced that its third-quarter operating profit was provisionally estimated at 107.4 trillion won, up 782.5% from the same period a year earlier. It is the first domestic company to surpass 100 trillion won in quarterly operating profit. But the market has shown little reaction. Samsung Electronics was trading at 267,500 won, down 0.37%.
Brokerages cite the market’s higher expectations as the reason. The strong third-quarter results were already well anticipated, and the view is that the future course of the industry will matter more for share prices.
Han Ji-young, an analyst at Kiwoom Securities, explained, “As market expectations for semiconductor stocks rise, the focus is shifting away from earnings for the remainder of this year and toward the sustainability of profits from next year onward.” She added, “There are limits to assessing the medium-term industry outlook through 2028 based solely on today’s results.”
At the same time, the KOSDAQ was trading at 897.45, down 0.98 points (0.11%) from the previous trading session. It opened at 898.19, down 0.24 points (0.03%) from the previous session.
On the KOSDAQ, individual investors alone were buying shares worth 92 billion won. Foreign investors and institutions were selling shares worth 69.1 billion won and 19.9 billion won, respectively.
[email protected] Sang-hyeok Lim Reporter