(2nd LD) Seoul shares down 1.24 pct as Samsung disappoints on shareholder returns
SEOUL, Oct. 29 (Yonhap) -- South Korean shares dropped 1.24 percent Thursday fol...
South Korean stocks slipped 1.24% on Thursday, with Samsung Electronics failing to meet earnings expectations and offering no details on its shareholder-return plan. The Korean won strengthened against the US dollar. The Korea Composite Stock Price Index (KOSPI) fell 74.78 points to 5,937.66 following a preliminary rise to 6,100.11 the previous day.
Investors were also affected by a lack of information about Samsung's plan to return value to shareholders. Despite robust demand for AI-driven chips, Samsung reported a record third-quarter operating profit of 107.44 trillion won, a 783.1% increase from the previous year. However, the company's lack of transparency regarding its shareholder-return plan disappointed investors, leading to a significant drop in the benchmark KOSPI index.
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