LG Group shares, which had surged on expectations of Nvidia CEO Jensen Huang's visit to Korea, are plunging on the 4th.
As of 9:10 a.m. that day, LG Electronics is trading at 337,000 won, down 55,500 won (14.14%) from the previous transaction day.
At the same time, LG (10.5%), LG Display (7.37%), LG Innotek (5.51%), and LG CNS (10.61%) are also sharply lower.
Earlier, as it became known that CEO Huang would visit on the 5th and hold a so-called "samgyeopsal meeting" with major corporate chiefs including LG Group Chairman Koo Kwang-mo, buying poured into LG Group shares. In particular, LG Electronics hit the upper price limit for two straight days on the 29th of last month and the 1st of this month, with the share price soaring nearly 70%, and LG CNS also hit the upper limit.
However, as the recent share price surge was based more on expectations than on changes in fundamentals such as the signing of concrete contracts or improved earnings, it is seen that profit-taking has emerged.
In fact, on the 2nd, LG's share price fell 15.56% from the previous transaction day as profit-taking poured in. LG Electronics also plunged more than 13% intraday, and the TIGER LG Group Plus ETF, which has a high weighting of LG Group affiliates, fell 9.07% in a single day.