Samsung Electronics Plunges 6.92% Despite Record Q2 Operating Profit

According to News1, on July 7, Samsung Electronics shares dropped 6.92% to 296,000 Korean won, while SK Hynix fell 6.06% to 2.201 million won, both declining sharply despite strong earnings announcements. Foreign investors were significant sellers, offloading 1.821 trillion won of Samsung stock and 1.168 trillion won of SK Hynix shares. Samsung reported a provisional Q2 operating profit of 89.4 trillion won, the highest quarterly result on record and exceeding analyst consensus.
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