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Samsung Electronics' shares down more than 3 percent on profit-taking
March 7, 2013 / 5:52 AM / 5 years ago

Samsung Electronics' shares down more than 3 percent on profit-taking

SEOUL (Reuters) - Shares in Samsung Electronics Co Ltd (005930.KS) fell more than 3 percent on Thursday as profit-taking and a lackluster outlook for first-quarter earnings weighed after recent gains.

An employee at Samsung Life walks at the company headquarters in Seoul March 31, 2010. REUTERS/Lee Jae-Won

“There’s no particular issue, but Samsung Electronics shares had seen recent gains, while Samsung’s first-quarter earnings are expected to underperform market expectations,” said Lee Seung-woo, a tech sector analyst at IBK Securities.

As of Wednesday, Samsung Electronics shares had risen 7.7 percent since the start of February on calming currency moves and brisk risk appetite.

At 0545 GMT the company’s shares were down 2.9 percent.

Reporting by Joyce Lee; Editing by Matt Driskill

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