Samsung Electronics' Stock Purchase Surges...KOSPI closes higher

Samsung Electronics closed 5.98% higher at 56,700 won
Last Friday, it soared more than 7% to close at 53,500 won
Low-priced buying flock to the aftermath of Thursday's 40,000 won shock

[Anchor]
After the market closed last Friday, Samsung Electronics announced a 10 trillion won share buyback plan.

The KOSPI also closed higher as the stock price, which had rebounded from low-priced buying on the day, surged with new good news.

I'll connect you to a reporter for more information. Reporter Lee Hyungwon!

Samsung Electronics closed trading sharply today, right?

[Reporter]
Yes, Samsung Electronics closed at 56,700 won, up nearly 6%.

During the day, it rose by 7% and traded at 57,500 won.

Last Friday, it soared more than 7% to close at 53,500 won.

At that time, the stock price rose as low-priced purchases flocked to the aftermath of the collapse to the 40,000 won level on Thursday, the previous day.

The stock price, which has rebounded to around 50,000 won in a day, seems to be gaining momentum from the announcement of the treasury stock purchase of 10 trillion won.

In 2017, the stock price soared by more than 50% over nine months after the announcement of the stock purchase of KRW 9 trillion.

However, the background of the purchase is different from the time when the performance was supported.

Experts say it should be seen how long the upward trend will continue, as the company announced a share buyback to boost its stock price itself in the face of poor performance and cash flow this time.

[Anchor]
The KOSPI closed higher as Samsung Electronics rose sharply, right?

[Reporter]
The KOSPI also gained strength as Samsung Electronics, the top market cap, surged.

The KOSPI rose more than 2% today to close below the 2,470 mark.

KOSDAQ also closed 0.6% higher at 689.55.

Meanwhile, financial authorities held a meeting to check the situation as the stock market fluctuated significantly recently.

This is because the volatility of our stock market has increased as former President Trump of the United States has succeeded in retaking power.

Financial authorities diagnosed that the recent fall is somewhat excessive, although there is uncertainty in the new U.S. government policy related to semiconductor and secondary battery major industries due to the nature of the economic structure that relies heavily on exports.

Kim Byung-hwan, chairman of the Financial Services Commission, said he would monitor market trends with caution, and ordered related organizations to proceed with the value-up fund at a pace.

So far, I'm Lee Hyungwon of YTN on the Korea Exchange.