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.

--With assistance from Heejin Kim

To contact the reporter on this story: Eric Lam in Hong Kong at elam87@bloomberg.net.

To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net, Teo Chian Wei

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