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S. Korean shares up as Samsung flags upbeat profit

All News 11:26 January 06, 2017

SEOUL, Jan. 6 (Yonhap) -- South Korean shares traded higher late Friday morning, as Samsung Electronics tipped that its fourth-quarter operating profit last year may have surged about 50 percent.

The benchmark Korea Composite Stock Price Index (KOSPI) climbed 7.5 points, or 0.37 percent, to 2,049.45 as of 11:20 a.m.

Samsung Electronics rose 2.02 percent after its earnings guidance for the fourth-quarter of last year beat market expectations on strong sales of semiconductors. Global chipmaker SK hynix also gained 2.88 percent.

In contrast, AmorePacific, the largest cosmetics maker here, dipped 1.13 percent.

Top automaker Hyundai Motor fell 2.28 percent, and its smaller affiliate Kia Motors traded 0.97 percent lower.

POSCO, the No.1 steelmaker, edged up 0.4 percent.

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

The local currency was trading at 1,188.60 won against the U.S. dollar, down 2.3 won from the previous session's close.

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