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S.Korean stocks hit record high on bullish expectations for Q3 earnings
October 11, 2017 / 6:56 AM / in 12 days

S.Korean stocks hit record high on bullish expectations for Q3 earnings

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SEOUL, Oct 11 (Reuters) - 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 1 percent at 2,458.16 points, its all-time closing high.

Tech giant Samsung Electronics climbed 3.5 percent, rallying for a third straight session. The company shares ended trade at a record-high 2,732,000 Korean won ($2,407.62).

Foreign investors were heavy net buyers of the KOSPI shares on the day, purchasing 445.3 billion won ($392.48 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. ($1 = 1,134.7300 won) (Reporting by Dahee Kim; Editing by Eric Meijer)

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