Samsung, SK hynix shareholder returns seen driving further won strength
Samsung Electronics and SK hynix’s combined shareholder return plans worth more than 150 trillion won ($108 billion) could trigger additional dollar selling and put further downward pressure on the won-dollar exchange rate, according to market experts on Wednesday. NH Investment & Securities projected that the won could strengthen to the 1,340-1,350 per dollar range, citing the chipmakers’…
The combined shareholder return plans of Samsung Electronics and SK hynix, worth over 150 trillion won ($108 billion), could further weaken the Korean won against the U.S. dollar, according to market experts. NH Investment & Securities projects the won could reach the 1,340-1,350 per dollar range, driven by the large-scale shareholder return programs and broader U.S. dollar weakness.
The won-dollar exchange rate recently fell to the high 1,300-won range for the first time in 11 months, after surging to 1,560 won in June. Samsung Electronics and SK hynix have announced massive shareholder return programs totaling up to 150 trillion won, with Samsung's program at 40 trillion won and SK hynix's at 90 trillion to 110 trillion won.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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