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S.Korea stocks edge down on investors' profit-taking
October 7, 2016 / 2:36 AM / a year ago

S.Korea stocks edge down on investors' profit-taking

* KOSPI trading will remain calm - analyst
    * Samsung Elec's Q3 earnings guidance beats woes

    SEOUL, Oct 7 (Reuters) - South Korean shares eased on Friday
on worries about weaker fourth-quarter profits and as investors
took profit from gains earlier in the week.
    The Korea Composite Stock Price Index (KOSPI) was
down 0.2 percent at 2,060.43 points as of 0219 GMT, but still
looked set for a mild gain of 0.8 percent for the week.
    "Market sentiment is cooling since forecasts about
fourth-quarter earnings are getting weaker and monetary policies
from the major central banks are also pressuring the main
bourse," said Kang Hyun-gie, a stock analyst at Dongbu
Securities.
    Offshore investors were set to be net sellers, offloading
37.0 billion Korean won ($33.20 million) worth of KOSPI shares
near mid-session. 
    Tech giant Samsung Electronics Co said it
expected third-quarter operating profit grew 5.6 percent,
beating estimates, as a pickup in chip and display earnings
likely offset the impact of the Galaxy Note 7 smartphone
recall. 
    The company's shares were just up 0.4 percent as they had
gained sharply in the previous session. 
    Chipmaker SK Hynix Inc dropped more than 1
percent, breaking its recent rally.
    Decliners outnumbered advancers 537 to 268.
    The South Korean won weakened and stood at
1,115.4 against the dollar, down 0.3 percent compared to
Thursday's close of 1,112.2.
    December futures on three-year treasury bonds gained
0.02 point to 110.72. 
    
                       0219 GMT    Prev close
 Dollar/won             1,115.4       1,112.2
 Yen/won             10.7571/70       10.7201
 *KTB futures            110.72        110.70
 KOSPI                 2,060.43      2,065.30
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Kim Coghill)

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