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[Alpha Biz=(Chicago) Reporter Paul Lee] Samsung Electronics reached a 52-week high with a high of 74,000 won in the early part of the year.
As of 9:21 am on the 14th, Samsung Electronics is trading at 73,900 won, up 1,100 won (1.51%) from the previous day. The high price in the market was 74,200 won, marking a 52-week high. It is the first time in about two years that Samsung Electronics' stock price has exceeded KRW 74,000 during the day since Feb. 21 last year (KRW 74,300 during the day).
The strong stock price of Samsung Electronics is attributed to a rise in the New York stock market amid expectations of a rate cut. As expectations for a recovery in the semiconductor industry are coupled, foreigners are also buying. Currently, foreign securities firms such as Morgan Stanley, Vienna and Goldman are at the top of Samsung Electronics' buying channels.
"It will be strong mainly in growth stocks and large-cap stocks thanks to positive macro materials such as a strong U.S. stock market, a 10-year interest rate that plunged to 4 percent, and a sharp drop in the won-dollar exchange rate since the Federal Open Market Committee (FOMC) in December, which was more dovish than expected," Han Ji-young, a researcher at Kiwoom Securities, said in a report.
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