Samsung Electronics Shares Surge On Foreign Buying...KOSPI rise

Samsung Electronics' fourth-quarter earnings fell below market expectations, but foreign buying has sent its stock price soaring nearly 3%.

Shares of Samsung Electronics started more than 1% lower at the open on selling by foreigners and institutions, but are trading higher as foreigners turned to net buying.

The KOSPI is also up more than 1% on net purchases by foreigners and institutions, while the KOSDAQ index started with a 0.6% drop, showing mixed performance.

In the Seoul foreign exchange market, the won-dollar exchange rate started at 1,455 won, up 1.5 won, and is moving around the mid 1,450 won range.