Seoul: Stocks hit record high on bullish expectations for Q3 earnings

[SEOUL] South Korean shares ended at record highs on Wednesday as expectations for robust third-quarter earnings from corporates such as Samsung Electronics boosted market sentiment.

The Korea Composite Stock Price Index (KOSPI) closed up one per cent at 2,458.16 points, its all-time closing high.

Tech giant Samsung Electronics climbed 3.5 per cent, rallying for a third straight session. The company shares ended trade at a record-high 2,732,000 Korean won.

Foreign investors were heavy net buyers of the KOSPI shares on the day, purchasing 445.3 billion won (S$532.1 million) worth.

The South Korean won was quoted at 1,135.2 to the dollar at the conclusion of onshore trade, effectively flat versus Tuesday's close at 1,135.1.

REUTERS