Current stance on 005930 KS

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Question asked 21/02/2021

Current stance on 005930 KS

“Hi, I have 2 connected questions I'd appreciate your comments on. I hold Samsung which I acquired while living in the US years ago - SSNLF (grey market, I believe). For the purposes of valuation/ risk/reward, is it essentially the same stock as that which you hold in your international account? i.e. Can I be confident following your lead if and when you decide it's timely to sell? Secondly, there is the exchange rate factor to consider regarding when to then bring the cash home. What are your thoughts on the AUD/USD in the short to medium term?” - Thank you! Catherine S.

Answer

Morning Catherine, a reminder that any advice we provide is general in nature.

1 – Samsung SSNF is indeed traded on the “grey market” in the US, I have no price / chart / information available on my Bloomberg but I see no reason why it wont follow the underlying share price shown below. However I haven’t traded in such a market before.

2 – Medium term we remain bullish the $A against the greenback but as we touched on in the MM Weekend Report short term we are neutral after the local currency has rallied 40% over the last 12-months i.e. the bulk of the move has played out in MM’s view.

005930 KS

MM remains bullish Samsung (005930 KS)

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Samsung (005930 KS)

LAST UPDATED 21/02/2021 16:18

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