Healthy demand for smartphones released by Samsung in the last fiscal quarter has boosted the South Korean firm’s share price in the Korea Composite Stock Price Index, reports Shanghai Daily.
The news outlet tells how, today, the KOSPI rose by 5.40 points – that’s 0.27% – to reach 1,978.97. This leaves trading volume at 359.06 million shares worth 4.19 trillion won, equivalent to 3.66 billion US dollars. The shares of Samsung Electronics increased by 2%, making them the largest influence on the flourishing of the KOSPI.
The company’s popular Samsung Galaxy S7, pictured above, and S7 Edge reached North America during the quarter – and, now, market watchers believe Samsung may have surpassed expectations with the first-quarter earnings that it is set to announce on Thursday. Nonetheless, it is believed that, in the meantime, investors may keep their optimism cautious with a “wait-and-see” approach.
