Published : Aug. 8, 2016 - 11:22
[THE INVESTOR] Samsung Electronics Preferred shares of Samsung Electronics touched a new high on Aug. 8, propelled by improved earnings and treasury stock buyback.
The shares retreated to 1,298,000 won (US$1,164.55) as of 10:30 a.m. after reaching an all-time high of 1,305,000 won, up 0.62 percent from the earlier session.
Samsung Galaxy Note 7.
The share price has been moving up since the company reported an operating profit of 8.14 trillion won, up 18 percent on-year in the second quarter.
The gain also stemmed from Samsung Electronics’ repurchase of its shares. It plans to buy back a total of 1.51 trillion worth of shares by Oct. 28.
By Park Han-na (hnpark@heraldcorp.com)