Samsung shares slumped despite forecasting a spike in quarterly earnings

In particular, the Kospi index of Korea increased by 0.47%, while Japan’s Nikkei 225 increased by 0.35% and the Topix index increased by 0.6%.

Samsung estimates operating profit for the first quarter of 2021 to reach 9,300 billion won, or $ 8.3 billion. Photo: AFP

While Asia-Pacific stocks this morning recorded major indexes gaining points, Samsung Electronics’ shares traded in South Korea still fell 0.35% after chip and smartphone maker. Minh forecast that the first quarter of 2021 profit will skyrocket.

Samsung estimates operating profit in the first quarter of 2021 will reach 9,300 billion won ($ 8.3 billion), up 44% year-on-year. Details regarding the earnings are expected to be released by Samsung later this month.

In Australia, the ASX 200 also increased by 0.6% as most stock groups traded up. Stocks of the 4 largest banks in this country are under selling pressure when ANZ shares fell 0.21% and National Australia Bank shares slipped 0.08%. Westpac shares recorded insignificant gains, while shares of Commonwealth Bank rose 0.51%.

US stocks last night suffered a decline session after reaching a peak in the previous session. “US stocks slumped while European stock indexes rose better after the close of April 5 trading. The news that half of Europe’s population will be vaccinated against Covid-19 in June. a big boost to the markets “, analysts at ANZ said.

On the eve of the online meeting of the World Bank (WB) and the International Monetary Fund (IMF), the IMF yesterday adjusted its forecast of world economic growth to 6% in 2021, instead of the 5.5% predicted in January. IMF chief economist Gita Gopinath said that while the uncertainties surrounding the Covid-19 pandemic were protracted, “the exit to the economic crisis and This health is becoming clearer “.

However, analysts at Commonwealth Bank do not expect that the April 7 meeting of the World Bank / IMF will create a great motivation for the financial market. “The financial market has been much more stable than it was this time last year. So there is no pressure for finance ministers to come together to make a strong commitment to build confidence in the economic recovery. economic system or financial system, “Commonwealth experts said.

On the money market, the US dollar index against other major currencies slid down to 92,332, compared with nearly 93,200 set up last week. The Japanese Yen also weakened and converted 109.86 JPY / USD, compared to 109.72 JPY / USD, while the Australian dollar was flat and changed hands at 1 AUD for 0.7664 USD.

Oil prices traded by Asian hours this morning increased slightly. Crude oil futures price of the US inched up 0.29% to 59.50 USD / barrel while Brent oil futures price rose by 0.33% to 62.95 USD / barrel. In the previous session, the strong recovery of the US and China economic data pushed oil prices up by more than 1%.