Foreign investors have trimmed holdings as labor disputes weigh on sentiment
About 40,000 union members of Samsung Electronics are filling the area around Godeok Samsung-ro in Pyeongtaek City, Gyeonggi Province, and holding a general rally on May 23. [Photo provided by Samsung Electronics Branch of Samsung Group Super-Enterprise Union]
While Samsung Electronics’ stock price, which had approached 300,000 won (approximateky $200), has recently undergone a correction due to foreign selling pressure, the foreign ownership rate has fallen to the lowest level this year.
According to Yonhap Infomax, Samsung Electronics’ foreign ownership rate was tallied at 48.42% on May 20.
This is at a similar level to 48.40% on April 7, which is the lowest point this year.
The foreign ownership rate maintained over 50% at the beginning of the year, but dropped below the 50% line for the first time this year as it fell to 49.97% on March 4, when the war involving the United States, Israel, and Iran broke out.
Afterward, the ownership rate continued to shrink after falling back below the 49% line to 48.91% on May 2.
Foreigners net sold 14.6747 trillion won (approximately $9.783 billion based on Won-dollar rate 1,500) worth of Samsung Electronics shares in the KOSPI market in May.
Considering that the net selling amount by foreigners in the KOSPI during this period was 38.1540 trillion won, they sold off more than one-third of the total KOSPI net selling in Samsung Electronics.
Samsung Electronics’ stock price rebounded slightly by 0.18% on May 20, but foreigners net sold more than 5.7 million shares on this day as well.
It is understood that the prolonged confrontation between Samsung Electronics’ labor and management over the performance bonus payment standards and institutionalization has acted as a negative factor on the stock price.
Yoon Young-sil
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