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S.Korea stocks edge up on upbeat earnings expectations, won steady
March 28, 2017 / 2:21 AM / 8 months ago

S.Korea stocks edge up on upbeat earnings expectations, won steady

    * KOSPI likely to peak at record high early April -analyst
    * Samsung Elec Q1 earnings in focus

    SEOUL, March 28 (Reuters) - South Korean shares edged up on
Tuesday on expectations that local companies' will post strong
first-quarter earnings, especially tech giant Samsung
Electronics Co Ltd            .
    The Korea Composite Stock Price Index (KOSPI)         was up
0.2 percent at 2,160.79 points as of 0208 GMT.
    "The index may touch a record high on the day of Samsung
Elec's earnings release, and later correct itself in the
following sessions," said Lee Jae-man, a stock analyst at Hana
Financial Investment Co Ltd.
    Samsung Electronics Co Ltd's             March-quarter
earnings release is slated for April 7. The company's shares
gained nearly 1 percent in morning trade.
    Foreign investors were set to be net buyers, purchasing 39.3
billion Korean won ($35.33 million) worth of KOSPI shares.
    Steelmaker Posco             rose nearly 1 percent while
Naver Corp             dropped 3.1 percent.
    Advancing issues outnumbered decliners 446 to 336.
    The South Korean won             moved narrowly and was
quoted at 1,112.5 to the dollar, barely changed from Monday's
close of 1,112.8.
    June futures on three-year treasury bonds         shed 0.01
point to 109.51. 
                       0208 GMT    Prev close
 Dollar/won             1,112.5       1,112.8
 Yen/won             10.0506/97       10.0308
 *KTB futures            109.51        109.52
 KOSPI                 2,160.79      2,155.66
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Kim Coghill)

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