Samsung Electronics shares hit record high

SEOUL (BestGrowthStock) – Shares in Samsung Electronics (005930.KS: ) hit a record high on Friday fueled by foreign buying amid current strong memory chip momentum and a robust earnings outlook for the first half.

Shares in the world’s No. 1 memory chip maker rose 0.71 percent to 851,000 won, hitting a historical high.

Samsung Electronics said earlier last month that it was targeting a higher operating profit and double-digit growth in sales in 2010, fueled by strong demand for its flat screens and memory chips.

Samsung is also expected to post more than 4 trillion won ($3.5 billion) in operating profit from its semiconductor business in the first half, according to a local media report earlier this week.

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(Reporting by Jungyoun Park; Editing by Jacqueline Wong)

Samsung Electronics shares hit record high