South Korea's KOSPI Falls 40% from Peak; Samsung Securities Sees Oversold Territory on July 28

According to Samsung Securities analyst Shin Seung-jin, South Korea's KOSPI index fell sharply on July 28 not due to semiconductor industry deterioration but due to weakened investor sentiment combined with negative headlines from China. Samsung Electronics and SK Hynix shares have dropped approximately 40% from their short-term highs and have entered oversold territory, the analyst said. Rather than selling further, Shin recommended monitoring earnings reports scheduled this week, with SK Hynix and Samsung Electronics releasing second-quarter results on July 29 and 30 respectively.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments