Samsung Electronics shares hit lowest in more than four years
SEOUL, Nov 13 (Reuters) -Shares in Samsung Electronics 005930.KS extended declines to a fourth straight session on Wednesday, hitting their lowest level in more than four years.
Shares traded down 2.1% as of 0025 GMT, after falling as much as 2.5% to 51,700 won, the lowest since June 24, 2020, while the broader KOSPI market .KS11 fell 1.1%.
The South Korean chipmaker, down 34% in the year-to-date, is on course to post its worst annual performance in more than two decades. Rival SK Hynix 000660.KS has risen 32% so far this year, and U.S. chipmaker Nvidia NVDA.O has gained 199%.
Last month, Samsung apologised for its disappointing profit, since it has lagged rivals in tapping booming demand for artificial intelligence chips, as competition from Chinese companies grows.
Reporting by Jihoon Lee
Editing by Ed Davies
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