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Samsung Q3 Profit Beats Estimate Helping KRW

KOREAN WON

Spot USD/KRW re-opened lower, catching up with yesterday's after-hours risk-on impetus and reacting to a beat in Samsung's profit. The pair sits -1.15 fig. at KRW1,157.15.

  • Samsung declared that its operating income for Q3 reached KRW12.30tn, topping BBG est. of KRW10.04tn.
  • South Korea released BoP data this morning, current account surplus shrank to +$6.5655bn from +$7.4518bn.
  • Bears now look for a slide towards YtD low of KRW1,150.65, printed on Jan 14. Bulls need a clearance of yesterday's high of KRW1,165.95 before targeting Sep 28 high of KRW1,174.80.
  • South Korean docket is empty during the remainder of this week, with domestic markets due to close on Friday for a national holiday. Focus turns to next week's BoK MonPol decision.
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