Seoul shares seen higher on Samsung Elec results

Thu Oct 4, 2012 7:41pm EDT

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SEOUL, Oct 5 (Reuters) - Seoul shares are likely to rise on
Friday, buoyed by a record quarterly operating profit from tech
giant Samsung Electronics.
    Samsung estimated its July-September operating profit at a
record 8.1 trillion korean won ($7.3 billion), d riven by strong
sales of its Galaxy smartphones, beating an average forecast of
7.6 trillion won by 16 analysts polled by Reuters.
 
    "A variety of global factors are pulling at the Korean
markets. However, the biggest local event today will be the
release of Samsung's quarterly results," said Jeong Seung-jae,
an analyst at Mirae Asset Securities. 
    The Korea Composite Stock Price Index (KOSPI) fell
0.2 percent to close at 1992.68 points on Thursday.  
    
------------------MARKET SNAPSHOT @ 22:28 GMT-------------------
 
INSTRUMENT    LAST     PCT CHG    NET CHG
S&P 500                1,461.40     0.72%     10.410
USD/JPY                   78.49     0.03%      0.020
10-YR US TSY YLD     1.673      --        0.000
SPOT GOLD             $1,790.67    -0.06%     -1.130
US CRUDE                 $91.46    -0.27%     -0.250
DOW JONES              13575.36     0.60%      80.75
ASIA ADRS               121.20     1.29%       1.54
    
---STOCKS TO WATCH---  
      
**SAMSUNG ELECTRONICS ** 
Samsung Electronics Co 005930.KS, the world's biggest technology
firm by revenue, estimated its July-September operating profit
at a record 8.1 trillion Korean won ($7.3 billion), d ri ven by
strong sales of its Galaxy smartphones.
       
**WOONGJIN COWAY ** 
   Shares in Woongjin Coway jumped 14.1 percent on
Thursday. A local court will hold a hearing on the fate of
Woongjin Holdings, its troubled parent company, on
Friday. 

**POSCO ** 
South Korean newspaper MoneyToday reported on Thursday that
POSCO is interested in buying ThyssenKrupp AG's
 struggling Steel Americas unit, boosting the German
group's shares.  

 (Reporting By Somang Yang; Editing by Richard Pullin)
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