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LG Shares Spike On Hopes Of A Strong 2015

ReutersJan 8, 2015, 08:30 IST

SEOUL (Reuters) - Shares of South Korean consumer electronics maker LG Electronics Inc rose sharply early on Thursday, buoyed by expectations for healthy earnings in 2015 as well as bargain-hunting.

Shares in LG, a maker of televisions and smartphones, were up 4.7 percent as of 0206 GMT, outperforming a 1.1 percent rise in the broader market.

Kiwoom Securities, in a research note to clients, said the company's earnings will show steady growth this year on the back of improvements for the smartphone business. The brokerage also said the stock remains undervalued, leaving little reason to expect further downside.

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(Reporting by Se Young Lee; Editing by Richard Pullin)