Shares forecast to rise

South Korean stocks likely will move upward in the first full week of 2015 on the back of not-so-bad fourth-quarter earnings of Samsung Electronics, analysts said Saturday.

The benchmark Korea Composite Stock Price Index ended at 1,926.44 on Friday, down 21.72 points, or 1.11 percent, from the previous week.

The KOSPI plunged 20.20 points on Monday as stocks traded ex-dividends, coupled with political instability in Greece, and lost another 12 points on Tuesday before the two-day New Year’s holiday closure.

Stocks usually fall in price by the amount of the dividend on and after the ex-dividend date, and there were no positive issues to offset the decline.

On Friday, the first trading session of 2015, the index rebounded to the 1,920 point level on gains from heavyweight shares led by Samsung SDS and Cheil Industries.

Analysts expect the KOSPI to gain as Samsung Electronics, the world’s No. 1 mobile phone maker, will likely bring out its somewhat improved fourth-quarter earnings guidance this week.

“The market consensus for Samsung’s fourth-quarter sales is 4.8 trillion won ($4.35 billion), down 42 percent from a year earlier but 18 percent higher than the previous quarter,” said Noh Aram, an analyst from KDB Daewoo Securities Co.

The on-quarter improvement is expected as the tech giant cleared out its inventory of older phones along with robust sales of semiconductors, she added.

Uncertainty in Greece, however, will continue to weigh on the market throughout January, as the nation’s early election is scheduled for Jan. 25. (Yonhap)