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Lee Jae-yong, Chairman of Samsung Electronics (Photo: Yonhap News) |
[Alpha Biz= Reporter Kim Jisun] Korean pension funds have purchased over 400 billion KRW worth of Samsung Electronics shares in the past two months.
According to the Korea Exchange on November 20, pension funds acquired 291 billion KRW worth of Samsung Electronics shares from November 1 to the present day. This follows their purchase of approximately 151.7 billion KRW worth of shares in October, with the buying volume nearly doubling this month.
Pension funds had been selling Samsung Electronics shares but shifted to buying in October. Between May and September this year, they offloaded a total of 984.7 billion KRW worth of shares, likely to secure profits during Samsung's price surge.
Samsung's stock price surpassed 80,000 KRW per share until August, showcasing a strong upward trend. However, starting in September, the stock entered a downtrend, falling to the 50,000 KRW range last month. On November 14, it dropped further to 49,900 KRW, marking its lowest level in four years and five months. The continued decline seems to have prompted pension funds to begin bargain buying last month.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
