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Seoul stocks start higher, led by Samsung

All News 09:18 January 06, 2017

SEOUL, Jan. 6 (Yonhap) -- South Korean shares opened higher Friday as investors cheered better-than-expected earnings forecasts by Samsung Electronics Co.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.19 points, or 0.25 percent, to 2,047.14 in the first 15 minutes of trading.

Samsung Electronics, which predicted its fourth-quarter operating profit last year to jump nearly 50 percent on year, rallied 2.02 percent.

Top automaker Hyundai Motor fell 1.3 percent, while top steelmaker POSCO climbed 0.2 percent.

Naver, the operator of the country's top Internet portal, gained 0.88 percent.

The local currency was trading at 1,185.45 won against the U.S. dollar, up 1.05 won from the previous session's close.

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