Samsung shares tumble after warning of semiconductor surplus

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Samsung Electronics shares took a hit on Friday following a report from Morgan Stanley that warned of an inventory surplus for the semiconductor market.

The investment bank downgraded its rating for the industry from in-line to cautious, despite chipmakers outperforming market expectations in recent years.

The semiconductor market plays a central role in the production of a number of goods affected by tariffs imposed in an escalating trade war between the US and China. Samsung’s semiconductors have applications in the automotive industry and servers to personal gadgets.

Samsung’s technology arm saw shares drop by 3.2pc to produce its worst performing day in more that two months, after a week…

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