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.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard