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Korea Hot Stocks - Samsung Group shares rally
Reuters - Friday, December 3
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SEOUL, Dec 3 - As of 0101 GMT, the main KOSPI <.KS11> was up 0.22 percent at 1,954.33 points. The index opened up 0.53 percent at 1,960.61 points.
Stocks on the move on Friday include:
** SAMSUNG GROUP SHARES RALLY AFTER MANAGEMENT CHANGES**
Shares in Samsung Group affiliates rallied after the group announced a management reshuffle early on Friday.[ID:nSEU003195]
Shares in Samsung Electronics <005930.KS> hit a historical high of 878,000 won after Jay Y. Lee, son of the group chairman, was named a president.
Shares in Hotel Shilla <008770.KS> jumped more than 5 percent after the chairman's daughter Lee Boo-jin was promoted as its president and CEO. Shares in Samsung C&T <000830.KS> rose 3.9 percent as Lee Boo-jin was also named as its "adviser" according to the Samsung Group statement.
"There are broader expectations about the new, young generation that will lead the group now. And Ms. Lee, in particular, has a very strong track record of achievement at Hotel Shilla," said an analyst who declined to be named.
"However, Jay Y. Lee has homework to do here. He has not shown much yet," she added.
0104 GMT
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