(For the midday report, please click )
SEOUL May 12 Seoul shares rose for the third
day on Monday after reversing earlier losses, spurred by a rally
in market bellwether Samsung Electronics which eclipsed
persistent foreign capital outflows.
Samsung Electronics Co Ltd, which accounts for
more than 17 percent of the main index, jumped 4 percent on
speculation of restructuring of the massive Samsung Group
following the hospitalisation of its chairman Lee
Kun-hee on Sunday. The stock's rise marked the strongest daily
gain since Aug. 13, 2013.
The Korea Composite Stock Price Index (KOSPI) closed
up 0.4 percent at 1,964.94 points, it's third day of gains.
Foreign investors sold a net 100 billion won ($97.6 million)
worth of KOSPI shares, positioning as net sellers for an eighth
The local currency was quoted at 1,024.4 versus
the dollar at the end of onshore trade, unchanged from Friday's
close at 1,024.4.
($1 = 1024.4500 Korean Won)
(Reporting by Jungmin Jang; Editing by Shri Navaratnam)