S.Korean chipmaker, electric shares rally on trade talk optimism

LG Innotek Co

12/02/2019 01:39

** South Korea's leading chip and electric shares rise as
investors buy domestic stocks, while expectations on Sino-U.S.
trade talks revive
    ** Shares of Samsung Electronics  005930.KS  and SK Hynix
 000660.KS  add more than 2 pct, driving electric sub-index
 .KS41  up 2.1 pct
    ** LG Electronics  066570.KS  and LG Innotek  011070.KS 
gain as much as 4.2 pct and 3.6 pct, respectively
    ** The gain is led by an inflow of foreign capital, says
Song Myung-sup, analyst, HI Investment & Securities, adding that
there's no change in chip industry outlook as only South Korean
chip shares are rising in contrast to mild rise of U.S. chip
shares  .SOX 
    ** Foreigners were net buyers of 11.58 billion won worth of
shares on the main board 
    ** There's no special momentum other than media reports https://www.axios.com/trump-xi-china-trade-war-mar-a-lago-37bb245b-9ffa-455e-bc82-499c3c32d7e2.html
 about possible summit between U.S. President Donald Trump and
Chinese counterpart Xi Jinping, says Lee Seung-woo, analyst,
Eugene Investment & Securities  urn:newsml:reuters.com:*:nL3N20614C
    ** The broader KOSPI market  .KS11  was trading up 0.3 pct

 ((hayoung.choi.thomsonreuters.com@reuters.net;
yuna.park.thomsonreuters.com@reuters.net))