Samsung (SSNLF) Surges on $7 Billion Buyback Announcement

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Nov 18, 2024

The stock markets in Japan and South Korea showed mixed results at the opening. The Nikkei 225 index in Japan opened with a decrease of 0.99%, settling at 38,259.59 points. Meanwhile, South Korea's KOSPI index saw a positive start, increasing by 1% to reach 2,440.31 points.

Contributing to the KOSPI's performance, Samsung Electronics (SSNLF, Financial) experienced a significant rise in its share price, jumping 6.4%. This surge followed the company's announcement of a $7 billion share buyback plan. The buyback is anticipated to boost investor confidence and support the stock's continued growth.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.