Seoul shares rose and posted a new all-time closing high on Wednesday, led by technology issues such as Samsung Electronics and LG Electronics, with shares in the world's No 1 memory chip maker hitting a record high. The Korea Composite Stock Price Index (KOSPI) finished up 0.92 percent at 2,115.69 points. The KOSPI 200 March futures index rose 3.4 points to 279.75 points.
The KOSPI 200 spot index climbed 2.65 points to 279.25. The junior Kosdaq index shed 0.75 percent to 532.97. Shares in Samsung Electronics ended up 2.9 percent to 997,000 won after hitting the key 1 million won ($900) mark, buoyed by a strong outlook for TV sales and an improving memory chip sector, analysts said. Kang also said investors were buying Samsung Electronics shares following news that Apple CEO Steve Jobs was taking medical leave.
Investors expect Samsung may be able to capitalise on the uncertainties posed by Apple's leadership changes. Other technology issues also rallied on strengthening appetite for technology plays, with LG Electronics, the world's No 3 handset maker, up 5.7 percent and LG Display up 3.4 percent. LG Electronics shares traded particularly strong on hopes its smartphone competitiveness would recover on the back of its diverse Optimus line-up," Kim Ji-sa, an analyst at Kiwoom Securities. But shares in Samsung Securities Co Ltd tumbled 6.6 percent.
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