Samsung Electronics' Post-Split Comeback Drags Korea Equities
(Bloomberg) -- Here’s what you might have missed during Asia’s trading day for May 4:
Samsung Electronics Co. resumed trading in South Korea with a whimper Friday following a 50-for-1 stock split, dragging the Kospi index down for a third day. The stock, which accounts for more than a fifth of the equity benchmark, fell 2.1 percent after a four-day layoff while the exchange processed the reboot. Markets were also shut for a holiday on May 1.
Some investors may have taken profits after the stock split as the shares rallied ahead of the trading suspension, said Lee Sung-min, head of equities at Eugene Asset Management.
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