SEOUL, April 8 Seoul shares reversed initial
losses to edge higher on Tuesday encouraged by a Samsung
Electronics' earnings guidance that was broadly in line with
analysts' forecasts, while the won inched to its highest
close in more than three months as exporters sold dollars.
The Korea Composite Stock Price Index (KOSPI) closed
up 0.2 percent at 1,993.03 points after falling as low as
1,977.61, its weakest since April 1.
Samsung Electronics Co Ltd estimated on Tuesday
its January-March operating profit fell by 4.3 percent to 8.4
trillion won ($7.96 billion), slightly below an average forecast
from 40 analysts polled by Thomson Reuters I/B/E/S of 8.5
Samsung Electronics shares edged down 0.2 percent after
fluctuating for much of the session.
Meanwhile, the won strengthened on exporters' dollar selling
for settlements amid fears of an intervention by the South
Korea's foreign exchange authorities to curb the pace of
The won was quoted at 1,052.2 to the dollar at
the end of onshore trade, gaining 0.3 percent from Monday's
close of 1,055.4. Tuesday's close was the strongest since Jan.
(Reporting by Jungmin Jang; Editing by Simon Cameron-Moore)