October 25, 2012 / 11:56 PM / 6 years ago

Seoul shares seen up on Samsung's record quarter

SEOUL, Oct 26 (Reuters) - Seoul shares are set to rise on
Friday after Samsung Electronics recorded quarterly
results on the strong sales of its Galaxy smartphones.
     Samsung, the world's largest electronics company, accounts
for about 15 percent of the benchmark KOSPI index.
    Samsung Electronics announced a profit of 8.12 trillion won
($7.4 billion) in the third quarter, nearly double last year's
figure, as strong sales of high-end TVs and Galaxy smartphones
more than offset reduced orders for chips and screens from
Apple. 
    Meanwhile, arch rival Apple Inc, also had a good
quarter, reporting earnings that met expectations after the
bell. The stock fell 1.5 percent in extended trade.
 
    However, South Korea's third quarter GDP grew 0.2 percent in
the July-September period over then previous quarter as global
demand for its exports faltered. 
    The Korea Composite Stock Price Index (KOSPI) rose 
0.55 percent on Thursday, snapping a run of four losing
sessions.
    
------------------MARKET SNAPSHOT @ 22:28 GMT-------------------
 
INSTRUMENT    LAST    PCT CHG    NET CHG
S&P 500                1,412.97     0.3%        4.220
USD/JPY                   80.33    0.06%        0.050
10-YR US TSY YLD     1.812     --          0.000
SPOT GOLD             $1,711.89    0.04%        0.700
US CRUDE                 $86.02   -0.03%        -0.03
DOW JONES              13103.68    0.20%        26.34
ASIA ADRS               121.10    0.56%         0.68
-------------------------------------------------------------
>Wall St manages slim gain, Apple falls        
>Prices drop on growth hopes after weak auction   
>Dollar touches 4-month high vs yen; euro down    
>Oil rises, products find support from Hurricane  
    
---STOCKS TO WATCH---  
      
**SAMSUNG ELECTRONICS ** 
    Samsung Electronics shares are set to strengthen
on news of its record quarter. Shares in the index heavyweight
rose 1.7 percent on Thursday. 

**WOONGJIN COWAY ** 
    South Korea's Woongjin Holdings is willing to
complete a $1.1 billion deal signed in August to sell a near 30
percent controlling stake in water purifier maker Woongjin Coway
 to domestic private equity fund MBK Partners, a
court said. 

**SK TELECOM ** 
    SK Telecom sold $700 million worth of corporate
bonds overseas on Thursday. The bonds, with a five and a half
year maturity, had a coupon rate of 2.13 percent, the lowest
rate for a South Korean private company. 
    SK Telecom's share value has risen 7 percent over the last
month.

 (Reporting By Somang Yang; Editing by Eric Meijer)
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