Shares of Samsung Are At a 2 Year Low
kpopluv, Sept. 24, 2014, 9:31 a.m.
Samsung Electronics, the biggest company listed on the Korea Exchange, saw its share price fall below W1.17 million on Tuesday due to concerns over disappointing third-quarter earnings (US$1=W1,041).
Thant was the lowest in 26 months. Samsung shares fell 2.27 percent on the day to close at W1.16 million. A decisive factor behind the fall may have been Samsung Securities' forecast on Monday of W4.7 trillion operating profits for the electronics giant, a full W1 trillion less than its projection earlier this month.
That would mark even more disappointing earnings results than Samsung had achieved in the second quarter, which the market viewed as an earnings shock.