Samsung Elec rally lifts Seoul shares to 6-mth high
23.05.12
* Large caps help KOSPI break above 2,020 points
* Samsung Elec up 5 pct to record close on LCD spinoff
* Hynix up over 5 pct on DRAM price rebound, Elpida woes
* Foreign investors net buyers for 8th session
By Joonhee Yu
SEOUL, Feb 15 (Reuters) - Seoul shares rose to a
six-month closing high on Wednesday on a surge in large-cap
technology counters such as Samsung Electronics Co Ltd
, extending a liquidity-driven rally that has
prevailed since the start of the year.
"Although gains were focused on a few large caps today,
liquidity-induced offshore bids, boosted further by a weaker
won, continue to provide sturdy support for the market," said
Shinyoung Securities analyst Lee Kyung-soo.
Investors shrugged off nagging worries about Greece, with
the country's conservative leader expected to deliver a letter
of commitment to lenders on Wednesday after euro zone finance
ministers were unconvinced by Athens' reform pledge and dropped
a planned meeting for the
Source: Reuters