Samsung Elec shares rise 2 per cent after Q3 earnings boost outlook

Samsung Elec shares rise 2 per cent after Q3 earnings boost outlook

SEOUL - Shares in Samsung Electronics rose 2 per cent on Monday, driven by expectations that the South Korean technology giant will continue to post solid earnings after its record-high profit in the July to September period, analysts said.

Some analysts raised their target prices for Samsung, expecting a strong recovery in its memory chip business to help offset slowing growth of smartphone profits in the coming quarters.

Samsung shares rose as much as 2 per cent to 1,478,000 Korean won ($1,400) per share, the highest intraday level in a week.

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