Samsung Electronics' market presence at lowest in 23 months

Samsung Electronics' market presence at lowest in 23 months

Samsung Electronics building in Seocho-dong, southern Seoul / Yonhap

Giant chipmaker Samsung Electronics saw its presence on the main bourse drop to the lowest in 23 months in terms of market capitalization amid a sharp drop, data showed Sunday.

The tech behemoth’s value stood at some 444 trillion won ($400 billion) as of Friday, or 19.43 percent of the KOSPI’s total market value of 2,285 trillion won.

It is the first time that the bellwether’s weighting against the total market cap fell below the 20-percent mark since September, 2019.

The figure marks a steep fall from 25.01 percent in Jan. 11 this year.

Samsung Electronics hit a 52-week record at 96,800 won per share on Jan. 11 this year, thanks to the positive earnings forecast.

But the stock price steeply fell to this year’s lowest of 74,100 won on Friday amid massive foreign sell-offs. The binge selling stemmed from concerns that the chipmakers’ earnings may wane after peaking in the second quarter.

Experts said the advances of giant platform, auto and battery businesses are particularly accountable for the change in Samsung’s weight in the market.

“The reduced portion of Samsung Electronics’ market cap helps lower the level of volatility (in KOSPI) and disperse the mega-influence by a single sector or stock,” Samsung Securities researcher Jeong Eun-ji said. (Yonhap)

Internet Explorer Channel Network
News Related

OTHER NEWS

Unification Minister calls for talks to discuss the North's ‘double standard' accusation

Unification Minister Lee In-young speaks during a parliamentary audit of the ministry at the National Assembly on Monday. (Yonhap)Unification Minister Lee In-young on Monday stressed the need for talks with ... Read more »

Ex-Foreign Minister Kang asks for local labor sector's support for her bid for top ILO seat

Former Foreign Minister Kang Kyung-wha speaks with officials of the Federation of Korea Trade Unions at the organization’s office in Seoul on Monday. (Yonhap)Former Foreign Minister Kang Kyung-wha on Monday ... Read more »

Police search Nat'l Assembly in Seoul over bomb threat

The National Assembly (Yonhap)Police and fire officials searched the National Assembly complex in Seoul on Monday after a lawmaker’s office received a bomb threat by phone, officials said Monday. According ... Read more »

S. Korea to raise goal of cutting emissions to 40% by 2030: Moon

(Yonhap)South Korea will reduce its greenhouse gas emissions by 40 percent from the 2018 levels by 2030, sharply raising its previous goal as part of efforts to curb the pace ... Read more »

Opposition pressures Lee Jae-myung at parliamentary audit

Gyeonggi Province Gov. Lee Jae-myung attends the parliamentary audit at the province government office in Suwon, Gyeonggi Province on Monday. The placard reads “recipient of money = culprit, sharer of ... Read more »

US general calls for strong space partnership with S. Korea

This image shows the official poster of the International Aerospace Symposium hosted by South Korea’s Air Force.A top US military official called Monday for strong space cooperation with South Korea, ... Read more »

More K-pop stars sing for webtoon soundtracks

Singer-actor Jinyoung is set to release, “You Said You Don’t Know Love,” a soundtrack for the popular webtoon, “Morning Kiss at Tiffany’s,” on Oct. 21. Courtesy of orangeDmsn By Dong ... Read more »

Casino faces major class action after money laundering allegations revealed

Star Entertainment Group shareholders are forming a class action after alleged inadequacies were exposed in the casino’s systems related to the management of anti-money laundering and counter-terrorism financing risks. Maurice ... Read more »

Air Force chief meets with US officials ahead of major defense exhibition

(Yonhap)South Korean Air Force Chief of Staff Gen. Park In-ho met with a delegation of senior US military and defense officials in Seoul on Monday to discuss bilateral cooperation ahead ... Read more »

S. Korea voices concern over Japan's Fukushima water release plan

This photo, provided by South Korea’s foreign ministry, shows Ham Sang-wook (L), Seoul’s deputy foreign minister for multilateral affairs, speaking with Rafael Grossi (R), director general of the International Atomic ... Read more »

BTS agency to host global audition to recruit talent

Courtesy of Big Hit Music Big Hit Music, the K-pop agency behind BTS and Tomorrow X Together, said Monday it will throw a global audition to launch a next-generation boy ... Read more »

Moon orders plan for booster shots for people who receive J&J COVID-19 vaccine

President Moon Jae-in is administered a COVID-19 vaccine booster shot at the National Medical Center in Seoul last Friday. (Yonhap)President Moon Jae-in on Monday ordered officials to swiftly set up ... Read more »

POSCO chief to lead World Steel Association for 3 years

By Kim Hyun-bin POSCO Group Chairman Choi Jeong-woo has been appointed to be part of the executive board of directors for the World Steel Association, and is scheduled to become ... Read more »

S. Korean, US, Japanese intelligence chiefs to discuss N. Korea in Seoul: source

These file photos from May 9, 2021, show, from left to right, Avril Haines, the US director of national intelligence; Park Jie-won, head of South Korea’s National Intelligence Service; and ... Read more »

Market LIVE Updates: SGX Nifty indicates a flat to positive start for the Indian indices

Read more »

Nearly 90 cities, counties in danger of extinction due to population decrease

gettyimagesbank Nearly 90 small cities and counties that are in danger of extinction due to population decrease have been designated as “depopulation areas” for intensive support from the central government, ... Read more »

89 cities, counties, wards designated as depopulation areas

Minister of the Interior and Safety Jeon Hae-cheol announces the designation of 89 cities, counties and wards as depopulation areas in a news conference in Seoul on Monday. (Yonhap)Nearly 90 ... Read more »

Seoul closely monitoring N. Korean leader's increased messages toward US: ministry

North Korean leader Kim Jong-un speaks at a lecture to commemorate the 76th founding anniversary of the ruling Workers’ Party last Sunday, in this photo released by the North’s official ... Read more »

New virus cases hit 3-month low

Health workers take samples for COVID-19 at a makeshift testing center near Seoul Station in central Seoul, Oct. 18. Yonhap South Korea’s daily coronavirus cases dropped to the lowest level ... Read more »

Asia jittery ahead of China GDP; oil high

Asian shares are on edge ahead of the release of Chinese economic data for the third quarter, as investors fret about the health of the world's second-largest economy even as ... Read more »

Facebook to hire 10,000 people in EU to build 'metaverse'

Attendees walk past a Facebook logo during Facebook’s F8 developer conference in San Jose, Calif., April 30, 2019. Facebook on Monday announced plans to hire 10,000 people in the European ... Read more »

S. Korea to start deploying new hand-held mine detector next year

This image, provided on Monday by the Defense Acquisition Program Administration, shows a newly developed hand-held mine detector. (Defense Acquisition Program Administration)South Korea plans to start deploying a new military ... Read more »

Lee to appear at parliamentary audit amid snowballing development corruption scandal

This photo, provided by the National Assembly’s photo press corps, shows Gyeonggi Gov. Lee Jae-myung speaking at the National Assembly in Seoul last Friday. (National Assembly Photo Press Corps)Gyeonggi Gov. ... Read more »

Busan's Ilgwang Beach becomes outdoor art gallery

“Narratives from the Hadal Zone” (2021) by Kim Kyung-hwa / Courtesy of the artist and Busan Biennale Organizing Committee By Park Han-sol Ilgwang Beach in Busan, one of the many ... Read more »

Key suspect in corruption-laden development scandal detained upon return from US

Nam Wook (C), a key figure in a sprawling land development scandal in Seongnam, Gyeonggi Province, is swarmed by reporters at Incheon International Airport, west of Seoul, on Monday, after ... Read more »

'Squid Game' draws attention to Jeju Island

Actress Jung Ho-yeon as Kang Sae-byeok in Netflix original series “Squid Game” / Courtesy of Netflix By Nam Hyun-woo The popularity of Netflix’s original series “Squid Game” is pushing up ... Read more »

Namkoong Min's fascinating makeover as elite spy agent

Actor Namkoong Min / Courtesy of MBC Lee Ha-nee emerges as rom com queen, creating rare rivalry in Friday-Saturday dramas By Kang Hyun-kyungDrama fans these days are faced with a ... Read more »

Wall St climbs on strong bank results

US stocks have risen as Goldman Sachs was the latest big bank to report strong results and better-than-expected retail sales eased worries about demand. The three major stock indexes were ... Read more »

China to keep up scrutiny of internet sector

This illustration file picture taken in Paris shows the logo of the US social network application Linkedin on the screen of a tablet. Microsoft on Oct. 14 said it will ... Read more »

Choyeon, Eunchae from 'Produce 48' to debut in new girl group bugAboo

K-pop girl group bugAboo / Courtesy of Ateam Entertainment By Dong Sun-hwa Choyeon and Eunchae, who made their names known through Mnet’s audition program “Produce 48” in 2018, will debut ... Read more »

Seoul expresses ‘deep regret' over Kishida's Yasukuni offering

A woman prays in front of a wooden plaque showing the name of Japan’s Prime Minister Fumio Kishida seen with a “masakaki” tree that he sent as an offering to ... Read more »

Tencent increasing investments in Korea amid China regulation

People pass by Tencent’s headquarters in Guangdong, China, on July 12. AFP-Yonhap By Kim Jae-heun China’s IT giant Tencent is investing more into the Korean game sector amid the Chinese ... Read more »

'Work Later, Drink Now' to follow three female friends

Actors Lee Sun-bin, from left, Han Sun-hwa, Jung Eun-ji, and Choi Si-won pose for pictures during the online press conference of the series “Work Later, Drink Now,” Friday. Courtesy of ... Read more »

Hyundai Motor aims to produce its own semiconductors

Hyundai Motor and Kia Corp. headquarters in Seoul / Courtesy of Hyundai Motor Group By Kim Hyun-bin Hyundai Motor Group is taking steps to advance beyond its traditional strength of ... Read more »

AhnLab's coding class for employees

An AhnLab employee and his son learn coding via a metaverse platform at the cybersecurity company’s headquarters in Pangyo, Gyeonggi Province, Saturday. AhnLab held the event for its employees and ... Read more »

Dollar set to continue rally against won

An electronic board in Hana Bank’s dealing room shows the slight fall of the won-dollar exchange rate, Friday. Yonhap Foreign exchange market predicted to stabilize next year By Lee Min-hyung ... Read more »

K-pop labels take strong action against internet trolls to protect their stars

K-pop girl group BLACKPINK / Courtesy of YG Entertainment By Dong Sun-hwa In the past, K-pop labels treated online trolls with some generosity. When their stars were attacked on false ... Read more »

Key figure in land development corruption scandal heads home from US for probe

Attorney Nam Wook, a key figure in a sprawling land development scandal in Seongnam, Gyeonggi Province, speaks with reporters at a Los Angeles airport on Sunday, before departing for South ... Read more »

Strategic alliance

Avatars of officials of Shinhan Bank, Shinhan Capital and software developer Galaxy Corp. pose for a photo on the metaverse, a virtual platform, after signing a memorandum of understanding on ... Read more »

Korean picture books win international illustration awards

The covers of Lee Myung-ae’s “Tomorrow Will Be a Sunny Day,” left, and Kim Hyo-eun’s “I am the Subway” / Courtesy of Munhakdongne Publishing By Park Han-sol Two critically-acclaimed Korean ... Read more »