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Samsung Electronics Shares Touch 1.5 Mln for 1st Time in 16 Months

Written: 2016-07-11 15:56:50Updated: 2016-07-12 09:16:16

Samsung Electronics Shares Touch 1.5 Mln for 1st Time in 16 Months

Samsung Electronics saw its shares traded at one-and-a-half million won each at one point on Monday following its announcement of surprise earnings for the second quarter.
 
Shares of the nation’s leading smartphone and memory chip manufacturer were traded at one-and-a-half million won at 1:35 p.m., up two-point-seven percent from the previous trading day.
 
The last time the company’s shares were traded at the one-and-a-half million won level at one time was on March 19th last year.
 
The highest price Samsung shares have ever reached before the market closed was one-point-57 million won posted on January second, 2013.
 
Recently, the electronics firm's shares have become increasingly popular among foreign investors. On Monday, scores of foreign financial services firms and investment banks, including CS, Morgan Stanley, UBS and Macquarie, were spotted as top buyers.
 
Market observers say such activity came after Samsung announced last Thursday that it earned an operating profit of eight-point-one-trillion won in the second quarter of this year. The performance was a surprise for the market, which previously predicted a quarterly operating profit of about seven-point-four trillion won on average.

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