Korean Hedge Fund Starts Buying Samsung on Bet Bottom Is Near

South Korean hedge fund Billionfold Asset Management Inc. said it started buying Samsung Electronics Co. this week on the view the stock’s plunge of almost 40% from a record high is coming to an end.

Excessive selling has made Samsung shares attractive, An Hyungjin, the chief executive officer of the 170 billion won ($130 million) fund, said in an interview in Seoul on Wednesday. “We are nearing the bottom,” An said.