[THE INVESTOR] South Korean stocks started higher on Oct. 28 amid investors making decisions based on third-quarter earnings reports.

The benchmark KOSPI edged up 1.11 points, or 0.05 percent, to 2,025.23 in the first 15 minutes of trading.

Most large caps traded mixed.

Samsung Electronics hiked 2.03 percent after its shareholders on Oct. 27 approved the nomination of Vice Chairman Lee Jae-yong to the electronics giant’s board of directors. Its third-quarter earnings dropped 30 percent on-year due to fallout from the Galaxy Note 7 smartphones.

Korea Power Electric Corp, the state-run power provider, slipped 1.57 percent, and leading steelmaker POSCO retreated 2.47 percent.

The local currency was trading at 1,145.7 won against the US dollar, down 3.2 won from the previous session’s close.


(theinvestor@heraldcorp.com)