April 10, 2013 / 2:23 AM / 5 years ago

KOREA HOT STOCKS-LG Electronics hits year high on profit jump hopes

SEOUL, April 10 (Reuters) - South Korea’s main KOSPI share index was up 0.65 percent at 1933.13 points as of 0204 GMT.

Stocks on the move on Wednesday:


Shares in LG Electronics rose as much as 3.9 percent to their highest in more than a year on expectations that the South Korean smartphone maker is likely to post a big jump in earnings as it gained market share from rivals including Apple and HTC.

LG’s operating profit for the January-March period is expected to increase 176 percent to 295.8 billion Korean won ($259.6 million) from the previous quarter, as it increased smartphone shipments whereas the likes of Apple, HTC and BlackBerry suffered from falls, Lee Sun-tae, an analyst at NH Investment & Securities said in a report on Wednesday. ($1 = 1139.4500 Korean won) (Reporting by Hyunjoo Jin; Editing by Gopakumar Warrier)

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