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Seoul: Shares close higher, helped by Samsung Elec; won gains
[SEOUL] South Korean shares rose on Tuesday as investors bought market heavyweight Samsung Electronics on hopes that it will unveil encouraging earnings guidance on Wednesday, but gains were capped by selling in automakers.
The Korea Composite Stock Price Index (KOSPI) ended up 0.6 per cent to 1,990.65 points. In the morning trade, it rose as much as almost 1 per cent to a near one-month high.
Samsung Electronics Co Ltd, which makes up 13 per cent of the main bourse's market value, gained 3.2 per cent ahead of its third-quarter guidance.
Market bellwether Hyundai Motor Co Ltd lost 3.7 per cent and its affiliate Kia Motors Corp fell 3.2 per cent.
In the currency market, the South Korean won closed up 0.6 per cent to 1,165.9 per dollar on improved risk appetite.