South Korean shares fall on caution ahead of Samsung Electronics' earnings

South Korean shares slipped on Wednesday as traders stayed cautious before Samsung Electronics reports its results, according to Business Recorder. The benchmark KOSPI fell 43.20 points, or 0.62%, to 6,898.19 by 0138 GMT. Samsung Electronics edged up 0.18%, having climbed above 2% at one point earlier in trading, while peer SK Hynix lost 1.52%.

The chipmaker is expected to release its results on Thursday, with third-quarter operating profit forecast to rise nearly nine-fold on strong AI demand. Analysts have trimmed their estimates by nearly 8% since the close of August. Trading in South Korea will be halted on Friday because of a national holiday.

Among other heavyweights, Hyundai Motor dropped 2.16%, Kia fell 1.95%, POSCO Holdings shed 2.36% and Samsung BioLogics lost 1.91%, while LG Energy Solution gained 0.38%. Overseas investors recorded net selling totalling 865.3 billion won, or $646.93 million. The won stood at 1,338.3 per dollar on the onshore settlement platform, 0.04% firmer than its previous close of 1,338.8. Han Ji-young, an analyst at Kiwoom Securities, said the pre-holiday mood was restraining gains.